Altitude, a financial services platform offering alternative investment tools, has raised $500K in a new round from over 40 investors from institutions and various sectors. This includes founders, operators, and from institutions such as Swiggy/DineOut, Yes Bank, Good Glamm Group, Robinhood, and Wipro.
The funds will be used to launch its flagship product Altitude Prism, which is a Fixed Income Instrument. According to Altitude, the firm aims to list the new product on the National Stock Exchange. A part of the funds will also be used to strengthen leadership in fund and risk management teams at Altitude.
Altitude aims to create a financial ecosystem with investment opportunities and making this ecosystem accessible to a wider audience. On the Altitude platform, investors will find a new class of alternative that are beyond the usual corporate and NBFC bonds.
According to the company, it will cater to both existing and new investors. It further added that 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.