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World Environment Day: Fintech platform Klub allocates Rs 100 Cr to support eco-friendly brands

The move is aimed at reducing carbon footprint, which also aligns with the Government of India’s sustainability goals, the company said in a statement.

World Environment Day: Fintech platform Klub allocates Rs 100 Cr to support eco-friendly brands

Wednesday June 05, 2024 , 2 min Read

Revenue-based financing platform Klub has created a Rs 100 crore special capital pool dedicated to support sustainable Indian brands.

With this capital, Klub aims to support at least 150 eco-friendly businesses by 2025. The move is aimed at reducing carbon footprint, which also aligns with the Government of India’s sustainability goals, the company said in a statement.

“Our goal is to empower entrepreneurs who are committed to sustainability and innovation, ensuring they have the resources needed to thrive and make a meaningful impact,” said Anurakt Jain, co-founder and CEO, Klub.

The global sustainable industry is growing rapidly powered by increasing consumer awareness and the demand for eco-friendly products. Klub said that according to a Bane and Company survey, more than 60% of Indian consumers are ready to pay a premium for sustainable products.

This is expected to increase demand for green products, which will lead to higher funding requirements to foster innovation and scalability in the sector.

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The Bengaluru-based company founded in 2020, is one of the players in the equity-free funding space. It has invested in more than 600 businesses across sectors such as D2C, EV, health-tech, and cleantech.

“The announced special fund for sustainable brands such as ours will enable us and many other businesses in scaling operations and reaching wider communities,” said Amit Sarda, co-founder at Soulflower.

Klub recently partnered with U GRO Capital to bridge the gap in the MSME sector in India with a funding of Rs 150 crore. It also announced its expansion to the Middle East earlier this year.


Edited by Affirunisa Kankudti