Klub gets $20 million funding, to deploy Rs 500 crore for local brands

New Delhi: Klub, a fintech platform that provides revenue-based financing, has raised $20 million (about Rs 150 crore) from existing investors 9Unicorns and Sequoia Surge. The funding round also saw participation of new investors Alter Global and Japan’s GMO VenturePartners.

The Singapore-headquartered company had in January raised $2 million in a pre-seed round led by Surge and multiple angel investors. The new round—which is a mix of equity and capital commitment—makes it one of the largest seed rounds till date in India’s startup ecosystem.

In a statement released on Tuesday, Klub said it will deploy Rs 500 crore over the next few quarters in local brands and digital small and medium-sized enterprises.