The Money Club has Secured $2.5 Million in a Series A Round Funding

Prudent Investment Managers led a $2.5 million Series A investment round for The Money Club, an on-demand liquidity platform. HNIs from Singapore and Dubai, 1Crowd AIF, and its current investors, Venture Catalysts, LetsVenture, Z21 Ventures, and Supermorepheus, also participated in the round.

Prior to this, the business had raised $2.54 million from its current investors.

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According to a news release from The Money Club, the new funding will be used to create financial inclusion solutions, advance technology, and give underprivileged groups financial empowerment. 

The Money Club was established in 2018 by Manuraj Jain and gives its newly credited customers on-demand liquidity without the need for paper documentation through a totally digital platform. The platform is intended to address the unmet financial requirements of low-income groups, especially the 400 million Indians in the lower middle class who have a difficult time obtaining standard financial products.

The Noida-based business claims that it allows people all around the nation to digitally rotate their savings and get money whenever they need it. A dynamic is real-time underwriting model that generates precise credit profiles using over 30 distinct criteria every transaction is made possible by its complete reliance on UPI rails and the important behavioral data it gathers.

By bringing nano-entrepreneurs into the official financial ecosystem's purview, this method greatly expands their digital footprint, which was previously nonexistent and offers 20 times more data than typical credit models.

Over 7 lakh individuals, the majority of whom are new to credit, have reportedly been successfully added to the Money Club's user base. They have reportedly cycled almost Rs 350 crore of their savings to yet and created a digital footprint of over 4.3 million transactions. 

About The Money Club

Money Club and have built a deep tech group savings platform where users save money with other verified peers in government registered funds, allowing 400m lower middle-class Indians to save safely and securely. We have already enabled over 1/2 million consumers to save, and we are growing 300% year over year in this $100bn market.

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