Altitude Secures $500000 In Pre-Seed Round Led By Good Glam, Others

Updated on: 5 October 2023 7:59 pm

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An undisclosed sum has been raised by Altitude, a financial services platform that provides alternative investment instruments. More than 40 prominent investors from prestigious universities and varied industries took part in the investment round, the company said in a statement.

This group consists of the creators, owners, and executives of renowned organisations including Swiggy/DineOut, Yes Bank, Good Glamm Group, Robinhood, and Wipro.

The funds will accelerate the launch of its flagship product Altitude Prism, which is a 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 per cent.

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“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 realising that mission,” said Krishna Maggo, founder of Altitude.

“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,” added Maggo, who had established one of India's earliest community funding platforms.

The start-up 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 alternative that is beyond the usual Corporate and NBFC Bonds, it added.

The platform will cater to both existing and new investors. The key differentiator between Altitude and other investment platforms is that it promises annual yields of 16 –18 per cent, a notable Delta of 4-5 per cent over conventional fixed-income products. 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.