Revenue-based financing Platform Klub closes its INR 200 crore maiden fund Aceler8
- ByStartupStory | September 5, 2022
On Monday, September 5th, Klub, a revenue-based financing platform, announced the final close of its Aceler8 fund that will invest INR 200 Cr in consumer and SaaS businesses.
In a statement, that was announced in December 2021 Klub said that Credence Family Office played a ‘pivotal role’ while closing the fund.
Over the next six months, the category II alternative investment fund (AIF) will primarily be used to expand Klub’s investments in small businesses and unicorns. Klub plans to utilise the capital to speed up disbursements across growth-stage businesses during the upcoming festive season.
30% of the fund’s total value has already been distributed, and it is currently looking for more investments to make over the next few months.
“Revenue-based financing (RBF) fits perfectly for the festive season capital needs of businesses. This festive season we will expand our investments in small businesses as well as unicorns by 2X through our RBF fund over the next six months.” said Anurakt Jain, Klub CEO and cofounder.
Anurakt refused to disclose the average amount provided by the fund to startups, but mentioned that Klub invests anywhere between INR 50 Lakh to INR 30 Cr for a tenure of 1-24 months.
He further added “So, we’re in a very active deployment phase at this point in time. We are absolutely not holding back in any form, shape or manner. What we do is agnostic of the business cycle. So regardless of the phase on the equity side, we will continue to deploy capital.”
The fund claims to have made 37 investments so far. The brands that are included are BluSmart, Ben Franklin, Bewakoof, Furlenco, SMOOR Chocolates, among others.
The founder of the company,Anurakt Jain, also claimed that over the following six months, the fund aims to make 50-55 investments.
About Klub
Anurakt Jain and Ishita Verma founded the fintech platform Klub, which provides financing solutions to digital firms and SMEs with recurring revenue. Klub also works with startups in various industries, including as B2B recurring revenue businesses, cloud kitchens, edtech, and D2C brands.It collaborates with financial institutions, high-net-worth individuals (HNIs), and non-banking financial firms (NBFCs) to supply funding. It is supported by well-known investors including Sequoia India, Alter Global, 9Unicorns, and others.
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