Zerodha’s Chief Investment Officer, Nikhil Kamath, has made an investment in the startup ‘The 1% Club’ founded by financial influencer Sharan Hegde and Raghav Gupta. The startup received pre-series A funding of Rs 10 crore from Gruhas, a venture capital firm co-founded by Kamath, with additional investments from Abhijeet Pai of the Puzzolana Group.
‘The 1% Club’ is described as a members-only platform focusing on education, mentorship, and entrepreneurial opportunities to aid individuals in planning their financial futures. The fund secured through Gruhas’ investment is intended to expand operations and attract skilled personnel.
The company aims to evolve from an educational technology-oriented platform to a combined platform merging financial and educational technology. Additionally, they’re in the advanced stages of obtaining registration with the Securities and Exchange Board of India (SEBI).
Hegde’s startup sees strategic support in the collaboration with Gruhas, envisioning itself at the forefront of the evolving space of financial technology innovation and influencer-driven businesses. The initiative aligns with the goal of empowering individuals with financial knowledge and combining education with the convenience of fintech.
Gupta, the influencer’s partner, highlighted that The 1% Club aims to contribute to enhancing the financial well-being of modern India. Gruhas, established in 2021, focuses on various investments in early-stage ventures and debt in areas such as PropTech, CleanTech, Media, Entertainment, and Consumer spaces.
Pai, co-founder of Gruhas, expressed enthusiasm in supporting the vision of The 1% Club. He emphasized how the platform is addressing financial literacy and community building by combining essential data statistics with a unique mode of communication, effectively engaging with the current young audience.
