The platform, Tap Invest, which was previously named Leaf Round secured $2 million in seed funding on October 18th. The round was led by the venture capital fund Turbostart. Along with other investors, the round included Snow Leopard Ventures, Cred’s founder Kunal Shah, and Creditstar UK’s CEO Kashyap Shah. Upsparks and Superb Capital, who had already invested in the firm earlier, will continue to do so.
Tap Invest is a fixed-income platform and it offers its consumers options like Asset leasing and Invoice discounting. The company has so far been successful in bringing on 12,500 investors in its products over the course of the last year, totaling investments worth Rs 150 crores. Currently, they have their sights on attracting 20,000 investors and a total of Rs 500 crores.
The CEO and Founder of Tap Invest, Nischay Nath, says,
“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.”
With the funding that the company has secured, they want to use it for market suspension in order to broaden the product offerings when it comes to debt investments. The press release also reveals that Tap Invest will aim to boost investment awareness among both young and traditional investors in the sector. Concurrently, the company is actively hiring for roles in product development, engineering, operations, marketing, and sales.
The CEO of Turbostart, Venkat Raju, CEO has highlighted,
“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.”