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.
