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Klub raises $2 million in pre-seed funding round

KlubFinTech startup company Klub has closed $2 million in a pre-seed funding round from Sequoia Capital India (as part of its Surge programme in Singapore) and institutional investors such as EMVC Fintech Fund, Better Capital, Tracxn Labs and 9Unicorns, according to media reports.

Klub offers growth financing services and its investment platform provides growth capital to entrepreneurs through financial innovation, community engagement, and deep data-driven analytics. The startup is based out of Singapore and India.

Singapore-based Surge is a scaleup program for early-stage startups in India and Southeast Asia; and it combines $1 million to $2 million of seed capital with company-building workshops, global immersion trips and support from a community of founders.

As per media reports, nearly 40 angel investors also participated in the investment round through AngelList. Naveen Tewari and Piyush Shah of InMobi, Kunal Shah of Cred, Rajesh Yabaji of Blackbuck, Ramakant Sharma of Livspace, Amit Gupta of Yulu, Shailendra Singh of MarketsandMarkets, Nipun Mehra formerly of Pine Labs, Nitin Sharma of InCrypt, Nishant Verman of Flipkart, and Shradha Sharma of YourStory were the investors, among others.

At present, Klub is reported to be in stealth-mode and is conducting limited pilots with brands, including with those of international ones entering India. The company is building a platform for the Indian market while positioning itself for a pan-Asia presence.

Earlier in January, India’s neo-banking startup epiFi had raised $13.2 million in seed funding from Sequoia India and Ribbit Capital.

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