Singaporean fintech startup bags $2m from Sequoia’s Surge, others

Fintech startup Klub today announced that it has raised US$2 million in a pre-seed funding round from Sequoia Capital’s accelerator program, Surge, and institutional investors, including EMVC Fintech Fund, Better Capital, Tracxn Labs, and 9Unicorns.

Klub co-founders Ishita Verma (left) and Anurakt Jain / Photo credit: Surge

Launched in August 2019 by Anurakt Jain and Ishita Verma, Klub utilizes data-driven analytics and community engagement to provide growth capital to brands in sectors like food and beverage, fashion, lifestyle, FMCG, and consumer internet.

The startup plans to use the new funds for “building Klub’s investment and data platform, along with building the team and acquiring partners,” Jain told Tech in Asia in an email.

Headquartered in Singapore, the company is initially building its platform for the Indian market, while gunning for a pan-Asia presence, according to a statement. Klub said it is currently in stealth mode and is doing limited pilots with select brands, including some international firms entering India.

Nearly 40 marquee angel investors participated in the pre-seed round, including InMobi co-founders Naveen Tewari and Piyush Shah, Livspace co-founder Ramakant Sharma, Flipkart exec Nishant Verman, and Shradha Sharma of Yourstory, among others.

Klub was part of Surge’s second cohort, which kicked off in September 2019. It joins 19 other firms in the program, which promises mentorship from founders and business leaders as well as connections to other startups.