Funding of Investment Startup: Tap Invest, the fixed-income platform formerly known as ‘Leaf Round,’ on Wednesday announced raising $2 million in a seed funding round led by the venture capital fund Turbostart. According to the release, other participating investors in the funding round included Snow Leopard Ventures, with angel investors such as Kunal Shah, Founder of Cred, and Kashyap Shah, the CPO and CEO of Creditstar UK. The existing investors, Upsparks and Superb Capital continued investing in the startup.
The fixed-income platform provides investment solutions such as Asset leasing and Invoice discounting to its customers. According to the release, the platform has onboarded 12,500 investors over the past year, pooling investments worth Rs 150 crores. The company aims to reach 20,000 investors and a pool of Rs 500 crores by the end of 2024.
Nishchay Nath, CEO and Founder of Tap Invest (Formerly Leaf Round), said, “The fixed-income investment category in India today accounts for approximately 70% of all investment assets. India is witnessing a rise in digital investment, and it’s the right time for fintech firms like Tap Invest to step in and make these digital investment adoption processes seamless by building a compliant ecosystem which is ‘responsible’ and offers tech-enabled products and services to its users.”
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The company plans to invest the funds into expanding its market presence and diversify its product offerings in debt investments. As per the release, the company also plans to raise investment awareness among young and traditional investors about the sector. The company is actively recruiting for product development, engineering, operations, marketing and sales.
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Venkat Raju, CEO of Turbostart said, “LeafRound was a dream opportunity for Turbostart – a highly ambitious & capable founding team (with complementary skills), with an innovative product, going after a very large and growing market. With strong execution capabilities, LeafRound is poised to be a major Fintech player.”
