India-based Klub, a financing platform aimed at brands with high customer engagement, has reportedly netted $20m in a seed funding comprised of a mix of equity and debt.
9Unicorns and Sequoia Capital India’s Surge acted as the lead investors, according to a report from Business Insider India. Additional support came from Alter Global and GMO Venture Partners.
With the fresh funds, the FinTech company is looking to hire staff, bolster the development of its data platform, release new products and enter new markets.
It was founded with the aim to revolutionising growth capital for Asian brands. Its platform enables consumers to invest into their favourite brands, with financial assessments, operational risk mitigation and legal frameworks to protect their portfolios.
By investing into a company, the consumer might receive welcome kits, access to exclusive events, branded merchandise, special discounts and more.
Companies can use the Klub platform to access inventory and marketing finance or growth capital lines.
Klub co-founder Anurakt Jain told Business Insider, “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,”.
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