StanPlus to expand Red Ambulance across India
Hyderabad: Hyderabad-based patient logistics and emergency medical response company StanPlus has announced its collaboration with Grip Invest, a platform that offers investment opportunities in physical assets leased to corporates. With this, StanPlus will lease ambulances from Grip Invest to expand its Red Ambulance across India.
Under this partnership, Grip will allow HNIs to invest in its leasing model with as little as Rs 50,000, thereby diversifying their investment portfolio and earning 17 per cent internal rate of return (IRR). StanPlus will commence the partnership with 10 Red Ambulances and eventually expand to 100 across 30 cities.
StanPlus CEO and founder Prabhdeep Singh said, “We will give monthly returns to the tune of 17 per cent to Grip’s investors while being able to put more ambulances on Indian roads. We will be investing Rs 2.5 crore for 10 ambulances which will grow to Rs 27-28 crore for 100.”
Grip Invest founder and CEO Nikhil Aggarwal said, “Through our collaboration, we will be unlocking a chance to do good while earning substantial returns to our investors. We are looking forward to the positive outcomes from this initiative.”
StanPlus aims to grow 3x within 2021, which requires it to enable a higher network of ambulances across its target geographies. The partnership with Grip Invest will accelerate the company’s growth while also expanding its capabilities to serve the nation.
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