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Klub, a revenue-based financing platform, has expanded into the Middle East. Klub has received permission to manage private credit funds under the newly instituted credit fund regime by the Financial Services Regulatory Authority, Abu Dhabi Global Markets (ADGM).

The Bengaluru-based startup, which claims to be the first revenue-based financing-focused credit fund to expand in the Middle East region, plans to invest Rs 2,300 crore (AED 1 billion) in revenue-based financing for the growth of SMEs (small and medium enterprises) and startups in the region.

Founded in 2019 by Anurakt Jain and Ishita Verma, Klub offers flexible capital to digital business and SMEs. The platform partners with NBFCs, HNIs, and financial institutions apart from its fund to offer the capital.

It has established itself in ADGM, a UAE financial centre known for its regulatory environment that fosters financial innovation, collaboration, investment facilitation, and financial expertise.

“We are delighted to welcome Klub to ADGM and confident that ADGM’s dynamic ecosystem and progressive credit fund regime will reinforce Klub’s proven track record as a leading revenue based financing player in India,” said Arvind Ramamurthy, Chief of Market Development at ADGM.

“Their commitment to financial innovation is aligned with ADGM’s vision, and we look forward to

providing the best platform that supports them in developing their offering and efficiently

contributing to the continuous development of Abu Dhabi’s vibrant financial landscape and its

strategic value to global finance,” he added.

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Klub says it has backed more than 600 digital businesses and invested more than Rs 920 crore (AED 400 million) across 1,600 investment rounds. In 2022, it closed India’s first SEBI-registered, fully operational Rs 230-crore (AED 100 million) debt fund.

“Our expansion to the Middle East, starting with the UAE, is the first step in this direction. 60% of the region’s GDP is driven by SMEs which are starved for fast and flexible financing solutions,” said Anurakt Jain, Co-founder and CEO at Klub.

The technology arm of Klub has raised more than Rs 185 crore (AED 80 million) in funding from Peak XV’s Surge, Alter Global, GMO Venture Partners, and 9Unicorns.