Platform that has created an ecosystem similar to capital markets for serious investing in start-ups and unlisted companies, meet GREX. The startup plans to raise Rs 8-10 crore in the next few weeks.
Manish Kumar, founder and chief executive said,
“We are in talks with Indian as well as overseas investors for raising Rs 8-10 crore to strengthen our base. Talks are in advanced stages and may materialise in two-three weeks,”
The company had raised Rs 4 crore in its first round of funding for strengthening its information technology backbone and bringing in new financial products and features on its transaction and information sharing platform for unlisted companies.
Currently, about 200 start-ups across India and over 150 investors have started to get themselves registered on GREX. The platform is expected to go live next month.
Kumar adds, “We raised funds from private investors, exactly mirroring how we envisage companies on GREX to raise and proved that it is a workable platform.
GREX is the first such holistic attempt ever across the globe. Our intention is to ensure we build a participative ecosystem and bring down the cost of capital for the companies,”
Many promoters or companies lose almost 40-50 per cent of their equity base in the first or second rounds of fundraising. There are a huge number of affluent private investors who do not have access to these companies.
According to Kunal Bajaj, an investor in GREX,
“The need for GREX is obvious — entrepreneurs and investors need a more transparent and efficient way to partner with each other. If the future of our country is dependent on great entrepreneurs building great start-ups, they need an even greater platform to rely on for funding their path,”