Altitude, a financial services platform offering alternative investment tools, has raised an undisclosed amount.
The funding round saw participation from over 40 esteemed investors from notable institutions and various sectors. This includes founders, operators, and leaders from top institutions such as 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%.
“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, Altitude.
A part of the funds will be used to strengthen leadership in fund and risk management teams at Altitude.
“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,” added Maggo, who had established one of India’s earliest community funding platforms.
Altitude aims to create a financial ecosystem with superior investment opportunities and making 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 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%, a notable Delta of 4-5% 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.
India’s alternative investment landscape has grown seven times in the past five years. Meanwhile, Indian investors are on a quest for better returns as they have been confined to annual yields between 8% to 11% for years now. Altitude is designed to bridge this gap in the market with its safe and high-yield investment instruments.
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.
“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,” said Gaurav Sharma, an investor in Altitude. He is a former Vice President at INDMoney and brings a wealth of industry expertise and insights to the discussion.
