The Money Club built an AI-enabled P2P group savings platform (an Android app described as an artificially intelligent chit-fund cashier) to help lower-middle-class users save, borrow and invest digitally. The startup leverages AI algorithms to underwrite high-frequency micro pooling of funds by studying user behaviors. It was founded by IIT Kharagpur friends Manuraj Jain and Surajit Ray and is based in Noida. The company claims its approach delivers a higher value proposition to savers, investors, and borrowers compared to other available options. The Money Club said it will use the raised capital to bolster its technology platform and operations. Financial operating metrics were not disclosed in the articles.

Total raised

$2M

Funding rounds

1

Latest round

Series A

Latest activity

Sep 2021