Grip, Chartered Bike sign a $3 million lease financing partnership | Social Hindustan News

Grip, Chartered Bike sign a $3 million lease financing partnership | Social Hindustan News

NEW DELHI: Alternative investment platform Grip on Monday said it has partnered with Chartered Bike, a fully automated public bike sharing system, to offer retail investors an opportunity to invest in sustainable and environment-friendly asset products.

Grip will facilitate the leasing of assets worth $3 million for Chartered Bike over a period of two to three months through its wealth creation platform.

“Investors today are keen to invest in companies or funds that aim to deliver high financial returns while creating a positive or social impact. Sustainable investing has been actively integrated among asset owners. We at Grip are happy to build a portfolio of eco-friendly, reliable, and affordable assets that are fast-growing and profitable in the long run. Chartered Bike is creating a sustainable and efficient mobility solution across the country and investors on Grip can now fractionally own these eBikes that will help reduce 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 said in its official statement.

Grip provides non-market linked alternative investment options, including asset-backed leasing, inventory financing, pre-leased commercial properties, startup equity, and subscription-based financing to retail investors.

Commenting on the partnership, Sanyam Gandhi, founder, Chartered Bike, said, “For a long time now giving the customer a comfortable and premium experience of transportation has been our main and only focus. We currently have 4,000 bikes, 500 electric bikes, and 450 stations across seven cities. As we expand our services to more cities in the country, partnering with Grip will help us revolutionise last mile commute and strengthen our micro-mobility platform.”

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