Lending startup Klub said to raise pre-seed funding whilst in sealth mode

Klub, a growth capital platform currently in stealth, has reportedly closed a $2m pre-seed funding round.

The capital was supplied by Sequoia Capital’s accelerator programme, EMVX Fintech Fund, Better Capital, Tracxn Labs and 9Unicorns, according to an article from TechInAsia.

With its fresh funds, the FinTech startup is looking to enhance its investment and data platform as well as onboard more staff and partners, the article stated.

The Klub website states it is based in India and Singapore but is currently operating in stealth mode, with no indication of its launch.

Klub is an investment platform which enables consumers to make investments into businesses across the food and beverage, direct-to-consumer and consumer internet industries. Businesses can apply for growth capital loans ranging from INR 1m ($14,000) to INR 20m ($282,000).

Despite it being very early into 2020, there have already been several Indian FinTechs closing funding rounds. Earlier this week, micro-lending platform Fusion Microfinance collected $70.6m in funding and neobank EpiFi secured a $13.2m seed round.

WealthBucker.in, an online platform for mutual fund investments, was another Indian FinTech to raise funds this year. The startup banked $2.4m from NorthStar and angel backers to support the streamlining of its KYC and investment processes.

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