Fintech startup Klub has raised $20 Mn in its Seed round from Alter Global (US), VenturePartners (Japan). Besides, existing investors 9Unicorns, Surge — Sequoia Capital India’s rapid scale-up program also participated in the round.
The funding comes after the startup raised $2 Mn in a Pre-Seed round at an idea stage led by Surge and multiple angel investors.
The startup plans to utilise the capital to expand its team, accelerate the development of its tech and data platform, and expand its product offerings and market segments to make Klub the fastest way to raise capital.
Founded by Anurakt Jain and Ishita Verma, Klub is a revenue-based financing platform that offers financing options to high-affinity brands. It offers growth capital ranging from INR 2 L to INR 30 Cr with zero equity dilution or personal guarantees.
The startup utilises data-driven analytics to drive faster funding decisions and ensures the cost of capital reflects the risk inherent in businesses across different stages and sectors appropriately. Its customers include digital-first companies and SMEs across ecommerce, D2C, edtech, SaaS and broader digital commerce spectrum.
The startup claims to have over 500 businesses that have availed its services due to the move from offline to online in India due to the pandemic.
According to an Inc42 report, the fintech sector had raised a total of $2.3 Bn until 26 June 2021 and was the most preferred sector for funding. The startup competes with prominent fintech startups like BharatPe, CRED, Policy Bazaar, Kredit Bee, among others.
Speaking about the funding, Jain said, “The digital revolution in India has levelled the playing field for local businesses, and we are thrilled to have a front-row seat in this multi-trillion-dollar opportunity. India’s digital commerce ecosystem requires more than ‘one size fits all’ financing, and with this round, we can further our mission of enabling growth for loved brands.”
The post Fintech Startup Klub Raises $20 Mn In Seed Round appeared first on Inc42 Media.
0 Comments