Altitude, a financial services platform that offers alternative investment services has raised $500k in pre-seed round funding.
The funding round saw participation from over 40 investors from notable institutions, founders, and business leaders from Swiggy/DineOut, Yes Bank, Good Glamm Group, Robinhood, and Wipro.
The platform plans to use the raised funds to strengthen its leadership and risk management team and to accelerate the launch of its flagship product Altitude Prism (Structured Fixed Income Instrument), which Altitude aims to list on the National Stock Exchange.
Prism is Altitude’s inaugural multi-asset fund that can yield returns between 16 and 18%.
Speaking on the funding round, Krishna Maggo, Founder of Altitude said, “At Altitude, we are on a mission to expand the fixed income horizon with safe and high-yield investment instruments. The funding we have raised is an important milestone in realizing that mission.”
“The interest from investors is a reflection of their endorsement of Altitude’s vision to transform the investment landscape. We’re certainly not just another run-of-the-mill Fixed Yield Investment Platform peddling mundane bonds, invoice discounting, or lease finance options. At Altitude, we are crafting high-yield investment instruments that not only promise exceptional returns on traditional assets but also introduce essential features such as diversification and early liquidity,” Maggo added.
Altitude aims to create a financial ecosystem with superior investment opportunities and make this ecosystem accessible to a wider audience. On the Altitude platform, investors will find a new class of alternatives that are beyond the usual Corporate and NBFC Bonds.
The Prism Fund is the first offering from Altitude. The fund’s diverse holdings are sourced from private market opportunities that were historically off-limits to individual investors.
Altitude is led by a seasoned team of investment professionals hailing from prestigious entities like IND Money, Bank of America, Kotak Private Bank, etc.; holding over a decade of experience in effectively managing funds surpassing 500 Crore.
Commenting on the investment in Altitude, Gaurav Sharma, Investor said, “In a market where investors have long hungered for better returns, Altitude’s commitment to transforming the investment landscape with safe and high-yield instruments, exemplified by the upcoming Prism fund offering 16-18% yield, couldn’t be timelier. With Altitude’s recent funding and innovative approach, it is poised to set new industry benchmarks and bridge the gap in India’s investment landscape.”