The Money Club raises $2.5m in Series A to drive Financial Inclusion

By Gloria Mathias

The Money Club, India’s peer-to-peer savings and lending platform, has closed its oversubscribed Series A funding round, raising $2.5 million.

The investment marks a milestone in the company’s mission to foster financial inclusion and uplift over 400 million lives across Bharat.

This funding round was led by Prashasta Seth, Founder & CEO of Prudent Investment Managers, with strong participation from existing investors, including Venture Catalysts++, z21 Ventures, and Supermorpheus. The round also saw the addition of new investors like 1Crowd AIF and several marquee angel investors.

The Money Club is dedicated to addressing the $200 billion ROSCA (Rotating Savings and Credit Association) market in India, 95% of which remains unorganised. Globally, this market is estimated to be worth $1 trillion. The company’s platform leverages technology to modernise traditional ROSCA models, making them more scalable, secure, and accessible for India’s underserved population.

Dr. Apoorva Ranjan Sharma, Co-founder of Venture Catalysts++, said, “The market potential for ROSCAs is substantial. The Money Club is poised to tap into this massive market, offering a safe and secure solution tailored to users’ evolving needs. Their innovative approach represents exactly the kind of transformative solution we seek to back. We are delighted to continue being part of their journey.”

Girichandra Kuchangi, Partner at 1Crowd AIF, added, “We were highly impressed with how Manuraj and his team leverage technology to address inefficiencies in traditional offline ROSCA models. Their proprietary model, driven by rich data analytics, positions The Money Club to drive financial inclusion at scale. 1Crowd is proud to support such ambitious entrepreneurs creating meaningful economic impact.”

Raj Shekhar Singh, General Partner at z21 Ventures, shared, “The Money Club is redefining financial inclusion through its peer-to-peer platform, empowering communities and making financial access more equitable and impactful. We are excited to support their vision.”

The funds raised will be used to accelerate The Money Club’s growth, enhance its technology stack, and expand its reach to ensure greater financial inclusion for India.