Fintech startup Altitude raised $500K in new round from over 40 investors
Altitude, a financial services platform offering alternative investment tools, has raised $500K in a new round from more than 40 investors from institutions and various sectors. This includes the creators, owners, and representatives of organizations like Swiggy/DineOut, Yes Bank, Good Glamm Group, Robinhood, and Wipro.
Altitude Prism, a Fixed Income Instrument, will be introduced as the company’s flagship product using the funds. Altitude claims that the company plans to list the new product on the National Stock Exchange. Altitude’s fund and risk management teams’ leadership will also be strengthened with some of the money.
With investment opportunities, Altitude wants to build a financial ecosystem that is open to a larger audience. Investors will discover a brand-new class of alternatives on the Altitude platform that go beyond the typical corporate and NBFC bonds.
The company claims that it will serve both current and potential investors. It further stated that Altitude’s promise of annual yields of 16–18%, a notable Delta of 4–5% over traditional fixed-income products, is what sets it apart from other investment platforms.
Altitude’s initial product is the Prism Fund. The fund’s diverse holdings come from opportunities on the private market, which were previously closed to individual investors.
