Gruhas Invests INR 10 Cr in Nikhil Kamath-Backed Finfluencer Sharan Hegde’s ‘The 1% Club’ for Financial Education.

Date:

Gruhas, a venture capital (VC) firm co-founded by Zerodha’s Nikhil Kamath, has made a significant investment of INR 10 Crores ($1.2 Million) in the pre-Series A funding round of Sharan Hegde’s financial edtech platform, “The 1% Club.” This investment represents a substantial step in promoting financial literacy and community building through innovative financial education.

“The 1% Club,” founded in 2022 by financial influencers Sharan Hegde and Raghav Gupta, has quickly gained recognition as a members-only platform dedicated to offering a comprehensive suite of educational resources, mentorship opportunities, entrepreneurial guidance, and networking avenues to individuals aspiring to achieve financial independence.

The startup is currently in the ‘advanced stages’ of registering with the Securities and Exchange Board of India (SEBI), highlighting its commitment to regulatory compliance and transparency in the financial education space.

The 1% Club distinguishes itself by operating as a social finance platform, seamlessly blending the power of education with the convenience of fintech. The platform’s founders envision a future where financial literacy becomes accessible to a broader audience, particularly the younger demographic. By leveraging data statistics and adopting unique communication strategies, the 1% Club has successfully increased its reach and interaction with the present-day youth.

Abhijeet Pai, co-founder of Gruhas, expressed his enthusiasm for the partnership, saying, “The 1% Club is addressing the critical issue of financial literacy and community building by fusing essential data statistics with a distinctive approach to communication, significantly expanding its outreach and engagement with the younger generation. We are delighted to support Team Sharan and their vision for the 1% Club.”

The infusion of INR 10 Crores in The 1% Club through this investment will provide the startup with the necessary resources to expand its operations and attract top talent to continue delivering high-quality financial education and mentorship. As financial literacy continues to be a pressing concern in today’s rapidly evolving economic landscape, this investment marks a significant step towards fostering greater financial awareness and independence in India.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Viraa Care Secures $108K in Pre-Seed Funding to Expand Global Reach and Nutrition Courses

Chandigarh-based health-tech platform Viraa Care has successfully raised $108,000...

Salud Beverages: Redefining the Ready-to-Drink Segment with a Bold Urban Lifestyle

Interview of Ajay Shetty, CEO & Founder of Salud...

Country Delight Secures Rs 200 Crore Debt Funding from Alteria to Fuel Expansion.

Country Delight, a Gurugram-based dairy and daily essentials D2C...

Hala Mobility Secures Rs 51 Crore in Pre-Series A Funding to Expand Urban EV Fleet

Hala Mobility, an EV-as-a-Service platform, has successfully raised Rs...