The financial services industry has been growing steadily in India with the rapid adoption of smartphones, the Internet, and UPI transfers (Real-time P2P money transfers) doubling every year, but there is still a large section of the population that remains underserved. According to a recent report by the World Bank, over 190 million people in India still do not have access to basic financial services.
z21 Ventures is pleased to announce our investment in Money Club. The platform facilitates group savings by bringing together people with similar financial goals and backgrounds. This engine gamifies every user’s journey from small saving groups to big saving groups based on their transaction history on the platform. By analyzing the user’s transaction history and financial behavior, the platform can offer personalized & flexible recommendations for saving, borrowing, and investing.
In rural and semi-urban areas of India, approximately 400 million people lack access to funds during times of crisis and struggle to find secure platforms to save money with favorable interest rates. Money Club offers a solution to this challenge. It enables individuals to access funds during emergencies and provides a safe and secure option for saving money. With Money Club, individuals in these underserved areas can overcome financial limitations and improve their financial stability.
We are excited to partner with a platform that is making a tangible difference in the lives of millions of people in India by providing financial services that are accessible, affordable, and inclusive. Our investment in Money Club aligns with our vision of supporting innovative startups that are driving positive social impact, and we look forward to working closely with the Money Club team to help them achieve these goals