Zerodhas Chief Investment Officer Nikhil Kamath has invested in finfluencers Sharan Hegde and Raghav Guptas’ startup, The 1% Club. The startup has secured Rs 10 crore pre-Series A funding from Gruhas, a venture capital firm co-founded by Kamath. Other investors included Abhijeet Pai of Puzzolana Group.
The 1% Club represents a unique intersection of finance and community that has the potential to change the way individuals approach wealth creation and financial management. I believe in the potential of this platform to redefine the future of fintech and edtech, said Kamath, co-founder of Zerodha.
In a release, the company noted that the 1% Club is a members-only platform that offers educational resources, mentorship and entrepreneurial opportunities to help individuals plan for their financial future. The funds secured from Gruhas’ investment will be used to develop the business and attract talent.
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The company is on the verge of expanding its horizons from a primarily edtech-focused platform to one that includes both fintech and edtech, The 1% Club said in a statement.
The start-up also noted that it is in an advanced stage of seeking registration with SEBI.
The partnership with Gruhas adds a layer of strategic support that puts Hegdes’ startup at the forefront of the evolving space of fintech innovation and influencer-led enterprise and marketing, Hegde explained.
People can only invest wisely and make informed financial decisions if they are well educated on the subject. The 1% Club combines the power of education with the convenience of fintech, enabling our users to embark on a journey of financial empowerment, he said.
The goal of the 1% Club is to meet the aspiration of improving the financial well-being of the new India, said Gupta, an influential partner.
Gruhas is an Indian Venture Capital fund founded in 2021 by Abhijeet Pai (Puzzolan) and Nikhil Kamath (Zerodha). The fund focuses on Early, Venture and Debt investments in the areas of PropTech, CleanTech, Media and Entertainment, as well as in the consumer space.
We are thrilled to support Team Sharan and their vision for The 1% Club, said Pai, co-founder of Gruhas. The 1% Club addresses financial literacy and community building by combining essential data insights with a unique way of communicating that greatly increases reach and interaction with today’s youth.
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