Grip, Chartered Bike signal a $3 million lease financing partnership

NEW DELHI: Alternative funding platform Grip on Monday mentioned it has partnered with Chartered Bike, a completely automated public bike sharing system, to supply retail traders a possibility to spend money on sustainable and environment-friendly asset merchandise.

Grip will facilitate the leasing of belongings price $3 million for Chartered Bike over a interval of two to a few months by its wealth creation platform.

“Investors at the moment are eager to spend money on firms or funds that purpose to ship excessive monetary returns whereas making a optimistic or social impression. Sustainable investing has been actively built-in amongst asset homeowners. We at Grip are glad to construct a portfolio of eco-friendly, dependable, and reasonably priced belongings which might be fast-growing and worthwhile in the long term. Chartered Bike is making a sustainable and environment friendly mobility resolution throughout the nation and traders on Grip can now fractionally personal these eBikes that can assist scale back the carbon footprint in India,” said Nikhil Aggarwal, co-founder and CEO, Grip.

Chartered Bike will use the funds raised from this channel to purchase and assemble electric bikes.

“The partnership will also help Chartered Bike fastrack its deployment rate across geographies, help the company scale better, and have far more users in the country use a sustainable mode of last-mile commute,” Grip mentioned in its official assertion.

Grip supplies non-market linked various funding choices, together with asset-backed leasing, stock financing, pre-leased industrial properties, startup fairness, and subscription-based financing to retail traders.

Commenting on the partnership, Sanyam Gandhi, founder, Chartered Bike, mentioned, “For a very long time now giving the shopper a cushty and premium expertise of transportation has been our fundamental and solely focus. We at present have 4,000 bikes, 500 electrical bikes, and 450 stations throughout seven cities. As we develop our companies to extra cities within the nation, partnering with Grip will assist us revolutionise final mile commute and strengthen our micro-mobility platform.”

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