Fintech startup Klub nabs $2 million from heavyweight investment firms

Team StartupcityFintech startup Klub has taken the opportunity to broadcast the huge fund that it has raised a sum of US$2 million in a pre-seed funding round from influential investment firms such as Sequoia Capital’s accelerator program, Surge, and institutional investors, including EMVC Fintech Fund, Better Capital, Tracxn Labs, and 9Unicorns.

Brought into being by Anurakt Jain and Ishita Verma in August 2019, Klub utilizes
data-driven analytics and community engagement to provide growth capital to brands in sectors like food and beverage, fashion, lifestyle, FMCG, and consumer internet. The startup plans to use the new funds for building Klub’s investment and data platform, along with building the team and acquiring partners.

The company is on the process of building its platform for the Indian market, while gunning for a pan-Asia presence, according to a statement. Referring to which Jain said, “It is currently in stealth mode and is doing limited pilots with select brands, including some international firms entering India.”

Approximately 40 marquee angel investors took part in the pre-seed round, including InMobi co-founders Naveen Tewari and Piyush Shah, Livspace co-founder Ramakant Sharma, Flipkart exec Nishant Verman, and Shradha Sharma of Yourstory, among others.

Hence Klub was part of Surge’s second cohort, which took shape in September 2019. It joins 19 other firms in the program, which promises mentorship from founders and business leaders as well as connections to other startups.