Revenue-Based Finance Startup Klub Raises $20M In Seed Round
- ByAyushi Ray | August 17, 2021
Revenue-based finance startup Klub raises $20M in seed round. The round saw participation from existing investors 9Unicorns, and Sequoia Capital India’s Surge, along with Alter Global (US) and GMO VenturePartners (Japan) as new investors. Founded by Anurakt Jain and Ishita Verma, Klub provides flexible growth capital ranging from Rs 2 lakh to Rs 30 crore with zero equity dilution or personal guarantees. Klub provides funding for recurring marketing, inventory, and capex spends to a wide variety of digital-first companies and SMEs across ecommerce, D2C, edtech, SaaS, and broader digital commerce spectrum. Klub will utilise the capital to expand its team, accelerate the development of its tech and data platform, and expand its product offerings and market segments. They have also planned to deploy Rs 500 crore over the next few quarters to local brands and digital SMEs.
“We are extremely bullish on revenue-based financing, and as early backers, we are proud to see Klub quickly become the market leader. At 9Unicorns, our investment thesis is designed to be founder-first and back products that work for both small and large businesses, and have a value proposition for Tier 2/3 India. In Klub, we found the perfect mix,” said Apoorva Ranjan Sharma, Co-founder and President, 9Unicorns. Klub uses deep data-driven analytics to drive faster funding decisions for over 500 businesses and ensures their cost of capital appropriately reflects the risk inherent in businesses across different stages and sectors. Commenting on the fund-raise, Klub Co-founder and CEO Anurakt 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. We believe that the foundation of a truly great company lies in solid partnerships.”
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