The 1% Club, a start-up founded by Sharan Hegde and Raghav Gupta, has raised Rs 10 crore from Gruhas, which was co-founded by Zerodha founder Nikhil Kamath and Puzzolana Group's Abhijeet Pai.
"Financial planning is nothing without education," states Hegde emphatically. "People can only invest wisely and make informed financial decisions when they are well-educated about the subject. The 1% Club is the first-of-its-kind social finance app that masterfully combines the power of education with the convenience of fintech, enabling our users to embark on a journey of financial empowerment."
Kamath noted that the 1% Club represents a unique fusion of finance and community, a combination that can transform how individuals approach wealth creation and financial management. "I believe in the potential of this platform to redefine the future of fintech and edtech," he added.
The start-up said that capital would be utilised for expanding its operations and attracting top talent in the industry. The company is on the cusp of broadening its horizons from a primarily edtech-oriented platform to one that encompasses both fintech and edtech. This transition aligns perfectly with its core mission – to provide holistic financial education and empowerment, ensuring individuals can navigate the complex world of finance with confidence.
Moreover, it also informed that the company is in the advanced stages of seeking registration with the Securities and Exchange Board of India (SEBI), a critical step to elevate its credibility and regulatory compliance in the finance sector.