Klub aims to deepen its financial institution network and leverage strategic partnerships to grow 20x in the coming year.
India’s leading Revenue Based Financing platform, Klub, has recently appointed Sudharsan Venkatakrishnan as Vice President as part of its rapid growth plan. Sudharsan will be responsible for heading Blaze, Klub’s newest business offering that provides marketing and inventory capital for digital SMEs in partnership with NBFCs. Since its launch 6 months ago, Klub Blaze has grown to partner with leading NBFCs to make growth capital accessible for over 100 digital-first businesses. With Sudharsan at its helm, Klub aims to deepen its financial institution network and leverage strategic partnerships to grow 20x in the coming year.
Klub started with a mission to enable flexible growth capital ranging from ₹2 lakhs to ₹30 crores in digital-first businesses. The company recently raised $20 mn in one of the largest seed rounds in India and has grown 18x over the last year. Revenue Based Financing creates a new way for digital SMEs to raise capital while repaying it more easily as a percentage of their revenue.
Sudharsan’s last stint was as the Chief Operating Officer of MyShubhLife (formerly Shubh Loans), a full-stack digital lending and savings platform where he was part of the founding team, instrumental in building their fintech platform as well as launching innovative financial products. He is an IIM Ahmedabad alumnus and brings over 11 years of professional experience.
Commenting on Sudharsan’s appointment, Anurakt Jain, CEO & Co-founder, Klub, stated, “After the seed fund-raise, we are aggressively expanding our leadership team. With Sudharsan’s experience, we are confident to grow our embedded platform offering by 20x in the coming year. Klub’s Blaze business has grown phenomenally in the last few quarters and our NBFC focussed business is only slated to get bigger as the digital SMEs in India continue to grow post the pandemic.”
Talking about his plans at Klub, Sudharsan adds, “The last few years have seen the rapid emergence of SMEs building great online businesses, and fintech will be the rocket fuel for them to unlock growth. Klub’s full-stack embedded product offering is an exciting innovation that is poised to become the preferred source of capital for digital SMEs. On the other side, I look forward to expanding our bank and NBFC partner network and continuing to scale up our robust product portfolio.”
India’s digital D2C ecosystem presents an opportunity of over $100 bn by 2025, which widens the scope of simplifying access to flexible growth capital. Sudharsan’s expertise in partnering with India’s largest marketplaces and forging deep relationships with leading banks and NBFCs will accelerate Klub’s plan of deploying ₹500 cr in the coming year.
Source: Business World