Loading organizations...

§ Private Profile · Noida, Uttar Pradesh, India
The Money Club is a technology company.
Money Club is a digital platform designed for Bharat, allowing users to pool money together for savings and loans, leveraging advanced technology for security and transparency.
The Money Club has raised $4.7M across 2 funding rounds.
The Money Club has raised $4.7M in total across 2 funding rounds.
The Money Club (Moneyclub Technologies Private Limited) is a fintech startup founded in 2016 that operates an AI-driven mobile platform for peer-to-peer chit funds, enabling users to form verified groups for collective saving, borrowing, and investing at better rates than traditional banks.[1][2][3][5] Targeting India's 400 million lower-middle-class individuals in a $100 billion market, it allows users to pool money in government-registered funds, borrow multiples of their contributions during emergencies, and has enabled over 500,000 consumers to save with 300% year-over-year growth.[1][3] The company, headquartered in Noida, India, has raised ₹39.76 Cr ($2.68M) in funding, including a Series A round, employs around 59 people, and remains active as a private limited company.[1][3]
The Money Club was founded in 2016 by Manuraj Jain, Saurabh Agarwal, and Surajit Ray, addressing the need for safe, digital alternatives to informal chit funds (also called committees or beesis) prevalent among India's lower-middle-class.[1][2] Emerging from the fintech boom, the idea digitized these traditional peer-to-peer savings groups, verifying members and integrating with government-registered funds to reduce risks like defaults common in offline setups.[1][5] Early traction came from enabling secure mobile-based pooling and borrowing, leading to rapid user adoption and investor interest from angels, networks, and VCs like SOSV and LetsVenture, culminating in Series A funding.[1][2][3]
The Money Club rides the wave of India's digital fintech revolution, digitizing informal savings amid rising smartphone penetration (over 800 million users) and UPI adoption, which formalizes peer-to-peer finance in a $100bn chit fund market.[1][3] Timing aligns with post-demonetization pushes for financial inclusion and RBI regulations favoring secure digital lending/savings, countering high bank rates and exclusion of 400m lower-middle-class Indians.[1][2] It influences the ecosystem by pioneering safe P2P models, competing with players like Assetplus, and fostering trust in fintech for underserved segments, potentially expanding to broader microfinance.[2][3]
With Series A momentum and explosive growth, The Money Club is poised to capture more of India's informal savings market through AI enhancements, partnerships with regulators, and geographic expansion.[1][3] Trends like embedded finance, open banking, and rising financial literacy will accelerate adoption, while challenges like competition and regulatory scrutiny could shape scaling. Its influence may evolve from niche chit funds to comprehensive digital wealth tools, solidifying its role in empowering lower-middle-class financial security—echoing its core mission of safe, peer-driven savings in a democratizing fintech era.[1][5]
The Money Club has raised $4.7M across 2 funding rounds. Most recently, it raised $3.0M Series A in December 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2024 | $3M Series A | — | V3 Ventures, Venture Catalysts, Vaibhav Kapoor | Announced |
| Sep 29, 2021 | $1.7M Seed Plus | SOSV, Venture Catalysts | Astarc Ventures, Blume Ventures, Keiretsu Forum, LIV Advisors, Rockstud Capital | Announced |
The Money Club has raised $4.7M in total across 2 funding rounds.
The Money Club's investors include V3 Ventures, Venture Catalysts | India's First Integrated Incubator, Vaibhav Kapoor, SOSV, Venture Catalysts, Astarc Ventures, Blume Ventures, Keiretsu Forum, LIV Advisors, Rockstud Capital.