Zerodha’s Chief Investment Officer Nikhil Kamath has invested in finfluencer Sharan Hegde and Raghav Gupta’s start-up, ‘The 1% Club’. The start-up has secured Rs 10 crore in pre-series A funding from Gruhas, a venture capital firm co-founded by Kamath. Other investors included Abhijeet Pai from the Puzzolana Group.

“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,” said Kamath, co-founder of Zerodha.

The company noted in a release that ‘The 1% Club’ is a members-only platform that offers educational resources, mentorship, and entrepreneurial opportunities to help individuals plan their financial future. The funds secured from the Gruhas investment will be used to expand operations and attract talent.

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“The company is on the cusp of broadening its horizons from a primarily edtech-oriented platform to one that encompasses both fintech and edtech,” The 1% Club said in a statement.

The start-up also noted that they are in the advanced stages of seeking registration with SEBI.

The partnership with Gruhas adds a layer of strategic support that positions Hegde’s startup at the forefront of the evolving fintech innovation space and influencer-driven businesses and marketing, Hegde explained.

“People can only invest wisely and make informed financial decisions when they are well-educated about the subject. The 1% Club combines the power of education with the convenience of fintech, enabling our users to embark on a journey of financial empowerment,” he said.

“At The 1% Club, the goal is to cater to the aspiration of improving the financial well-being of the new India,” said Gupta, the influencer’s partner.

Gruhas is an Indian Venture Capital fund founded in 2021 by Abhijeet Pai (Puzzolana) and Nikhil Kamath (Zerodha). The fund focuses on Early, Venture, and Debt investment in the PropTech, CleanTech, Media and Entertainment, as well as the Consumer space.

“We are delighted to support Team Sharan and their vision for The 1% Club,” said Pai, co-founder of Gruhas. “The 1% Club is addressing the issue of financial literacy and community building by combining essential data statistics with a unique way of communication that significantly increases reach and interaction with the current young.”