The Money Club, a Noida, India-based fintech startup that built an AI-based P2P group savings platform to enable the lower-middle-class population to save, borrow and invest digitally, raised $1.7 million pre-Series A.

The round was led by Global VC fund SOSV and Venture Catalysts and other investors including Blume Founders’ Fund, LetsVenture, Keiretsu Forum, Rockstud Capital, Astarc Ventures, and LIV Advisors Ltd also participated in the round.

The Money Club will use the funds to bolster its technology platform and operations.

Company: The Money Club

Raised: $1.7M

Round: Seed Round

Funding Month: September 2021

Lead Investors: Global VC fund SOSV and Venture Catalysts

Additional Investors: Blume Founders’ Fund, LetsVenture, Keiretsu Forum, Rockstud Capital, Astarc Ventures, and LIV Advisors Ltd

Company Website: https://moneyclubber.com/

Software Category: AI-based P2P group savings platform

About the Company: Founded by IIT Kharagpur friends, Manuraj Jain and Surajit Ray, The Money Club has built an AI-based P2P group savings platform to enable the lower-middle-class population to save, borrow and invest digitally. The Money Club leverages AI algorithms to effectively underwrite high-frequency micro pooling of funds by studying user behaviors. Acting as an artificially intelligent chit fund cashier in the form of an Android app, the startup claims to deliver a higher value proposition to savers, investors, as well as borrowers compared to all other available options in the market.

Source: https://yourstory.com/2021/09/funding-sosv-venture-catalysts-the-money-club-fintech-startup/amp