Tap Invest (ultra) review: is it safe, fees and how to sell (2026)

Tap Invest (ultra) review

Tap Invest is not on NSE's or BSE's OBPP list and was named in a SEBI interim order on 18th Nov 2024 for selling unlisted NCDs to the public. Listed bonds reach its users only through a stated partnership with BondScanner, which is the registered entity, so that is where any bond trade actually happens.

Verified 17th Oct 2026

Key facts

Legal entity

Purple Petal Invest Pvt Ltd (App Store seller of Ultra by Tap); Google Play lists Fixdot Fintech Pvt Ltd as developer of the same app source

Group or backers

Founded in 2021 by Nishchay Nath, Himanshu Chowdhary and Soumya Kushwaha; about $2.3 million raised, backers include QED Innovation Labs and Snow Leopard Capital reported source

SEBI registration

None stated on its site source

NSE OBPP status

Not listed source

BSE OBPP status

Not listed source

Where your bonds sit

Not applicable to its own products; listed bonds bought through BondScanner settle into your own demat source

Minimum investment

Not shown on the site; about early 2025, ₹10,000 for invoice discounting and ₹20,000 for asset leasing reported source

Fees and markup

A leasing fee per deal; on its earlier bond deals, a spread between buy and sell yields reported source

Yield shown as

Site advertises 11% to 15% XIRR without defining it source

Selling before maturity

No formal secondary market; invoice discounting is marketed with early repayment options source

Settlement

Not applicable to its current non-securities products source

Credit range on shelf

Not applicable; no bonds sold on its own platform source

NRI access

Not disclosed on the pages checked source

Play Store (India)

4.4 from 262 reviews for "ultra : Fixed Returns Platform", read 17th Oct 2026 source

App Store (India)

3.99 from 71 ratings for "Ultra by Tap", read 17th Oct 2026 source

SEBI or exchange actions

SEBI interim ex parte order WTM/AB/DDHS/DDHS-SEC-1/30990/2024-25 of 18th Nov 2024 to cease and desist from offering securities to the public; no confirmatory or final order found source

Sells: FDs

Is Tap Invest registered to sell bonds?

No. Neither Purple Petal Invest Pvt Ltd nor the Tap Invest brand appears on NSE's OBPP list dated 14th Oct 2026 or BSE's file dated 24th Sep 2026, and Tap Invest's site states no SEBI registration (NSE list, BSE list, Tap Invest). Under SEBI's rules only a registered stock broker enabled by an exchange can run an online bond platform (NCS Master Circular).

On 19th Nov 2025 SEBI cautioned investors about platforms offering OBPP-like services without registration (SEBI PR 75/2025). Every registered entity is on our OBPP registry, and how to check SEBI registration walks through the check.

What did SEBI's Nov 2024 order say about Tap Invest?

SEBI's interim ex parte order of 18th Nov 2024 named Purple Petal Invest Pvt Ltd, as owner and operator of Tap Invest, alongside altGraaf and Stable Investments, for offering privately placed unlisted NCDs to the public (SEBI order). SEBI recorded that Tap Invest had onboarded 100 companies, raised more than ₹400 crore and had 25,000+ users. The unlisted NCDs it found on the platform included issues of Blu-Smart Mobility, Si Creva Capital, B9 Beverages and Whizdm Finance, allotted between May and Sep 2024.

The order directed the entities to cease and desist from offering securities for public subscription or sale on their platforms, preserve records and reply within 21 days. We found no confirmatory order, final order, revocation or settlement; SEBI's orders search could not be checked directly, so this is not proven absent. Stable Investments in that order is Berkelium Technologies, a different company from the registered Stable Bonds.

How does Tap Invest sell bonds now?

Through BondScanner. Tap Invest's site says it has partnered with BondScanner to make investing in listed bonds simpler, and lists BondScanner in its footer; its own product page still shows bonds as coming soon (Tap Invest, about). BondScanner is run by Sustvest Broking Pvt Ltd, an NSE enabled OBPP since 7th Oct 2025, so a bond bought this way is a BondScanner trade under BondScanner's terms (NSE list). See our BondScanner review.

The corporate link between the two is not documented: BondScanner's footer names only Sustvest, while a contact database lists Tap Invest's CEO as a BondScanner founder (BondScanner, RocketReach). Tap Invest's investor app is now ultra. "Ultra by Tap" was released on the App Store on 27th Nov 2024, 9 days after the SEBI order, sold by Purple Petal Invest, while Google Play lists Fixdot Fintech Pvt Ltd as developer, with no disclosed link between the two companies (App Store, Play).

What does Tap Invest sell instead of bonds?

Asset leasing, invoice discounting, fixed deposits, pre-IPO shares, digital gold and digital silver, plus a partner programme for advisors and an SME lending arm called Tap Capital (Tap Invest, products). Leasing and invoice discounting deals are not listed bonds and do not fall under the OBPP framework.

Its scale claims, self-reported and read on 17th Oct 2026, are 100k+ users and ₹1,500 crore+ raised (Tap Invest), against SEBI's Nov 2024 figures of 25,000+ users and ₹400 crore+. A blog profile reports that an Exampur asset leasing deal defaulted or was delayed around early 2025 (The Alt Investor). For what to check before any high yield offer, see is a 12% to 15% bond too good to be true.

Questions people ask

Is Tap Invest SEBI registered?

Tap Invest is not on NSE's or BSE's list of Online Bond Platform Providers, and its site states no SEBI registration. It says listed bonds are offered through a partnership with BondScanner, which is registered.

What is ultra by Tap?

ultra is Tap Invest's investor app, released on the App Store on 27th Nov 2024 by Purple Petal Invest. Google Play lists Fixdot Fintech Pvt Ltd as developer of the same app.

Was Tap Invest banned by SEBI?

SEBI's interim order of 18th Nov 2024 directed Purple Petal Invest, the operator of Tap Invest, to cease and desist from offering securities for public subscription or sale on its platform. We found no final order as of 17th Oct 2026.

Can I buy listed bonds through Tap Invest?

Only through BondScanner, which Tap Invest names as its partner. The trade then runs on BondScanner's platform and terms, as an NSE enabled OBPP.