Sequoia capital-backed income-based financing platform Klub marked the final close of its first Rs 200 crore income debt fund to support consumer tech companies ahead of the festive season.

Sebi registered secondary category-II investment fund Acceler8 launched in December last year and has so far invested in around 33 companies including BluSmart, Ben Franklin, Bewakoof, Furlenco and SMOOR Chocolates among others, Klub said in a September 5 statement. Klub also said it had paid 30% of its total value.

With the fund closing, Klub aims to invest in growth-stage businesses over the festive period, the company said. Klub will invest between Rs 5 lakh and Rs 30 crore in the capital within 1 to 24 months, the company said on September 5.

Credence Family Office, one of Klub’s strategic partners, helped the revenue-based financing firm close the fund, Klub said. The fund’s advisory board includes industry leaders including InMobi Group founder and CEO Naveen Tewari, Meesho co-founder and CEO Vidit Aatrey and 9Unicorns co-founder Dr Apoorva Ranjan Sharma.

Founded in 2019 by Jain and Ishita Verma, Klub provides flexible funding of up to Rs 30 crore to digital businesses and SMEs (small and medium enterprises) with recurring revenue. The company partners with leading NBFCs (Non-Banking Financial Companies), HNIs (High Net Worth Individuals), Financial Institutions and their own Sebi-registered funds to provide growth capital.

Klub offers businesses at all stages different capital structures for recurring marketing, inventory and capital expenditures. The company claims to have invested in over 600 rounds for over 300 brands in India. Last August, Klub raised $20 million in an India-led seed round, the largest ever in India.