Existing investors Upsparks and Superb Capital also participated in the round.
Tap Invest, which was previously known as Leaf Round, offers fixed income investment opportunities to its users. Investors can participate in asset leasing and invoice discounting.
The company was founded in 2021 by former True North executive Nishchay Nath, former McKinsey professional Soumya Kushwaha, and Himanshu Chowdhary, who has worked with Media.net and Games24x7.
“The fixed income investment category in India today accounts for approximately 70% of all investment assets. This is an indicator that there is a tremendous opportunity and potential for growth in this category,” said Nath.
He added that Tap Invest wants to build a seamless digital investment opportunity in fixed income assets and offer tech-enabled products to its users.
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In its earlier avatar, the platform had onboarded more than 12,500 investors, who have contributed investments exceeding Rs 150 crore. Tap Invest aims to raise Rs 500 crore by the end of 2024 for similar investment opportunities. The company envisions exceeding 20,000 active users engaging in investments across various instruments in the fixed income space through its platform.The startup intends to use the fresh funds to expand its market presence, pursue substantial growth and diversify its range of services on the debt investment side. It also intends to increase awareness around such investment opportunities among young Indians.
Chris Kolenaty, founder, Snow Leopard Ventures, said that he was driven to invest in the company by the founders’ high levels of customer focus, high rates of iterative product development, and, although early, healthy signs around user retention from a cohort perspective.
