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Noida-based fintech platform The Money Club has secured $2.5 million in a Series A funding round. The investment was led by Prudent Investment Managers and saw participation from high-net-worth individuals in Singapore and Dubai, along with 1Crowd AIF and existing investors, including Venture Catalysts, LetsVenture, Z21 Ventures, and Supermorepheus.
Revolutionizing On-Demand Liquidity for Underserved Communities
Founded in 2018 by IITian and INSEAD alumnus Manuraj Jain, The Money Club addresses the financial challenges faced by India’s 400 million lower middle-class population. The platform offers on-demand liquidity solutions to new-to-credit users, bypassing the need for physical paperwork.
By leveraging India’s Unified Payments Interface (UPI), The Money Club facilitates seamless digital savings rotation, providing timely financial support during emergencies. This model empowers users who lack access to formal credit systems and often depend on local moneylenders.
Technology-Driven Financial Empowerment
The Money Club uses advanced behavioral analytics to build dynamic credit profiles for its users. Each transaction is evaluated against 30+ attributes, offering a depth of analysis unmatched by traditional credit systems.
To date, the startup has enabled over 7 lakh users to manage their finances effectively, facilitating the rotation of ₹350 crore in savings across 4.3 million digital transactions. With a 98% user retention rate, the platform has demonstrated its ability to deliver impactful and reliable financial services.
Plans for Growth
The Money Club intends to utilize the newly raised capital to enhance its technological infrastructure, refine its financial inclusion solutions, and scale operations across underserved regions in India.
Prashasta Seth, CEO of Prudent Investment Managers, commented, “The Money Club is solving a critical societal challenge while building a scalable and profitable business. Under Manuraj’s leadership, the company has demonstrated impressive growth and resilience. We are excited to support its journey in transforming financial inclusion in India.”
Pioneering Inclusive Financial Access
The Money Club is well-positioned to expand its impact, leveraging its innovative platform to address the evolving needs of India’s lower middle-class population. By combining cutting-edge technology with a user-centric approach, it continues to bridge the gap in financial accessibility, driving the future of inclusive fintech solutions in the country.
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