The Money Club, a fintech startup, recently raised $2.5 million (Rs 21.1 crore) in its Series A funding round. The round was led by Prudent Investment Managers, with participation from existing investors including Venture Catalysts, LetsVenture, Z21 and Supermorepheus.
The acquired funds will be utilised to enhance the company’s technological infrastructure and broaden its reach, providing financial solutions to underserved communities across India.
Speaking about the funding, Manuraj Jain, Founder, The Money Club, said, “This investment empowers us to advance our innovative financial inclusion solutions, expand our technological capabilities and continue our mission of providing financial empowerment to underserved populations.”
The Money Club offers a digital platform enabling users to access small-ticket loans ranging from Rs 15,000 to Rs 20,000. The platform ensures swift fund disbursement, often within six hours and eliminates the hassle of traditional paperwork.
The company has attracted over seven lakh users who have collectively rotated approximately Rs 350 crore in savings. With over 4.3 million transactions recorded to date, the platform leverages a behavioral data-driven underwriting model. This model evaluates more than 30 attributes per transaction to create precise credit profiles, aiming to improve financial access and inclusion.
The Money Club’s funding round follows other significant investments in the sector.
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