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GREX, an alternative investment platform that allows private individuals to invest in startups and unlisted companies, today announced that it has raised Rs 4 crore in its first round of funding.
The funds will be utilised to strengthen GREX's IT backbone and bring in new financial products and features on its transaction and information sharing platform for unlisted companies.
The Pune-based company provides an exchange-like platform for start-ups and unlisted companies looking to raise funds.
More than 200 startups across India and over 150 investors have started registrations, the company said, adding that eight companies have completed full data disclosures that are required to go 'Live'.
The platform is expected to go live next month.
Manish Kumar, founder & CEO, GREX said, "Our intention is to ensure we build a participative ecosystem and bring down the cost of raising capital for companies.
"There is huge affluent class of private investors who simply do not have an access medium to these companies. We are simply integrating the mutual needs in a rule and process based framework that caters to all."
For unlisted companies, GREX facilitates a steady flow of need-based access to capital. Companies can raise multiple rounds of capital, depending on their growth needs.
Kunal Bajaj, investor in GREX said, "The need for GREX is obvious - entrepreneurs and investors need a more transparent and efficient way to partner with each other."
GREX has tied up with depository services and transfer agents to facilitate the process of dematerialisation of unlisted shares and transference (of shares) to investors' accounts in favour of its companies.
