Tuesday, July 23, 2024
Funding News

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

Key Points:

Klub’s Commitment: Fintech platform Klub allocates Rs 100 crore to support eco-friendly Indian brands.

Sustainability Goal: Initiative aligns with the Government of India’s sustainability goals and aims to reduce carbon footprints.

Support Target: Plan to support at least 150 sustainable businesses by 2025.

Consumer Trend: Bain & Company survey shows over 60% of Indian consumers are willing to pay a premium for eco-friendly products, driving demand for green products.

Funding Needs: Increased demand for sustainable products leads to higher funding requirements for innovation and scalability.

Klub’s Track Record: Founded in 2020, Klub has invested in over 600 businesses across sectors such as D2C, EV, health-tech, and cleantech.

Entrepreneur Support: New fund aims to empower entrepreneurs committed to sustainability and innovation.

Industry Impact: The fund will enable sustainable businesses to scale operations and reach wider communities, as noted by Amit Sarda, co-founder at Soulflower.

Strategic Partnerships: Klub partnered with U GRO Capital earlier this year, securing Rs 150 crore to bridge the funding gap in the MSME sector.

Expansion Plans: Klub announced its expansion to the Middle East, extending its support to a broader market.

Klub Launches Rs 100 Crore Fund to Propel Sustainable Indian Brands

Bengaluru, India – In a significant stride towards sustainability, revenue-based financing platform Klub has unveiled a dedicated Rs 100 crore capital pool to bolster eco-friendly Indian businesses. This initiative aims to support at least 150 sustainable brands by 2025, aligning with the Government of India’s commitment to reducing carbon footprints and promoting green practices.

“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,” stated Anurakt Jain, co-founder and CEO of Klub.

The demand for sustainable products is surging globally, fueled by increasing consumer awareness. A survey by Bain & Company revealed that over 60% of Indian consumers are willing to pay a premium for eco-friendly products. This trend is expected to boost the demand for green products, driving higher funding needs to support innovation and scalability in the sector.

Founded in 2020, Klub has established itself as a key player in the equity-free funding space, having invested in over 600 businesses across diverse sectors such as D2C, EV, health-tech, and cleantech. This new fund underscores the company’s commitment to fostering sustainable development and aiding businesses in their growth journeys.

“The announced special fund for sustainable brands such as ours will enable us and many other businesses in scaling operations and reaching wider communities,” remarked Amit Sarda, co-founder at Soulflower, a beneficiary of Klub’s initiatives.

Klub’s recent activities reflect its strategic expansion and collaborative efforts. Earlier this year, the company partnered with U GRO Capital to address the funding gap in the MSME sector with a Rs 150 crore investment. Additionally, Klub has announced its expansion to the Middle East, broadening its reach and impact.

As the sustainable industry continues to grow, initiatives like Klub’s dedicated fund play a crucial role in supporting businesses that prioritize environmental stewardship. By providing essential resources and financial support, Klub is helping to pave the way for a greener, more sustainable future in India.

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