Revenue-based financing platform Klub has raised $ 20 mn (about Rs 148.5 crore) in funding from existing investors 9Unicorns and Surge, Sequoia Capital India’s rapid scale-up program.

Alter Global (US) and GMO VenturePartners (Japan) also participated in the funding round, coming in as new investors, a statement said.

The company will deploy Rs 500 crore over the next few quarters in local brands and digital SMEs, it added.

Revenue-based financing refers to a model, wherein the investor gets a regular share of the business income.

Founded by Anurakt Jain and Ishita Verma, Klub provides flexible growth capital ranging from Rs 2 lakh to Rs 30 cr with zero equity dilution. The company had previously raised a $ 2 million pre-seed round at an idea stage, led by Surge and multiple angel investors, it added.