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.
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.
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
