Wed Mar 30 2022
2 min read
Revenue Based Financing platform, Klub, announces its partnership with India’s leading payments and API banking solutions company, Cashfree Payments. With this partnership, Klub and Cashfree Payments aim to finance 5,000 merchants through Revenue Based Financing.
Cashfree Payments offers an advanced payment gateway with features like instant refunds, card pre-authorization, among other products. The brand also provides a bouquet of payment services to vendors, including payment collections, recurring payments, and verification services to banks. Backed by SBI, Y Combinator, Apis Partners, and incubated by PayPal, Cashfree Payments enables 1,00,000+ growing businesses in India and across 8 other countries, including the USA, Canada, and UAE with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty, and rewards. Speaking about the partnership, Reeju Datta, Co-Founder, Cashfree Payments, said:
“We are delighted to partner with Klub’s embedded financing platform. The collaboration will help Cashfree Payments merchants avail flexible financing options to operate in a nimble manner and drive their growth in the dynamic digital environment. We at Cashfree Payments stay true to our commitment to devise innovative solutions to address critical industry challenges.”
Klub’s full-stack embedded capital platform offers capital starting from INR 5 lakhs up to INR 20 crores to digital SMEs. The RBF player has already partnered with 5 of India’s largest marketplaces across e-commerce, logistics, and payment gateways. Klub is now on the path to providing capital solutions at scale via every platform that supports digital SMEs. Sudharsan Venkatkrishnan, Vice President, Klub, said:
“We are excited to roll out Klub’s embedded capital platform on the Cashfree Payments ecosystem. Our platform will enable instant access to a range of capital products for 5000+ merchants on Cashfree Payments. Our products combine well with those of our partners like Cashfree Payments to accelerate the revenue growth of digital merchants. .”
Klub has facilitated more than 400 investments in 250+ digital businesses so far and has a community of more than 6200 patron investors. The company raised $20 million in one of the largest seed rounds in the country and grew by 20x in the last year.