MoneyClubber: A Platform for Community Banking

MoneyClubber: A Platform for Community Banking – Saving, investing, and borrowing money are essential activities for managing our finances and achieving our goals. However, traditional banking and financial services often fail to meet our needs and expectations, as they charge high fees, offer low returns, impose strict eligibility criteria, and lack transparency and convenience.

MoneyClubber

Details of the startup:

  • CITY : Noida
  • STATE : Uttar Pradesh
  • STARTED IN : 2016
  • FOUNDERS : Manuraj Jain, Saurabh Agarwal and Surajit Ray
  • NUMBER OF INVESTORS : 18
  • LATEST ROUND INVESTMENT : –
  • TOTAL INVESTMENT : ₹125.80M
  •   TOTAL SECURED LOANS AVAILED : Nil

You can find their website here.

Fortunately, there is an alternative way to save, invest, and borrow money more efficiently and effectively, thanks to MoneyClubber, a platform that enables people to form and join Money Clubs with other verified peers. MoneyClubber is based on the concept of Rotating Savings and Credit Associations (ROSCAs), which are informal groups of people who pool their money and take turns to receive the lump sum.

We will tell you everything you need to know about MoneyClubber, how it works, and why you should use it for your financial needs.

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What is MoneyClubber?

MoneyClubber is a mobile and web-based platform that provides online Money Clubs for people from all over India. MoneyClubber was founded in 2016 by Manuraj Jain and Kishalay Kundu, who are graduates from IIT Kanpur and have over 10 years of experience in fintech and product development. They were joined by Vish Narayanan, who is a serial entrepreneur and angel investor, and Ralf Saykiewicz, who is an interim CEO and ex-Roche executive. MoneyClubber also has a team of advisors and partners from various institutes and sectors.

MoneyClubber has received funding and support from various sources, such as Y Combinator, Rebright Partners, WaterBridge Ventures, AET Japan, Narodowe Centrum Badan i Rozwoju, and California Life Sciences. MoneyClubber has also published several papers and patents on its technology and products.

MoneyClubber’s vision is to create a platform where 1 million people can come together to join Money Clubs with other verified peers. MoneyClubber’s mission is to democratize community banking and make saving, investing, and borrowing money more efficient and enjoyable.

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How does MoneyClubber work?

MoneyClubber is very easy to use and does not require any prior experience or knowledge. All you need is a smartphone, tablet, or computer and an internet connection. Here are the simple steps to get started with MoneyClubber:

  • Download the MoneyClubber app from the Google Play Store or the Apple App Store and install it on your device. You can also access the MoneyClubber website from any browser.
  • Register with your mobile number or email address and create a profile. You can also sign up with your Google or Facebook account.
  • Apply to join a Money Club that suits your interest, budget, and duration. MoneyClubber offers a wide range of Money Clubs in various categories, such as education, health, travel, wedding, business, and more.
  • Get verified by MoneyClubber and join a Money Club with other verified members. You can also view the members’ profiles, ratings, and reviews before joining. You can also reschedule or cancel your membership anytime.
  • Participate in the Money Club by contributing a fixed amount every month and bidding for the lump sum. You can also earn interest on your contributions and get rewards for your achievements. You can also communicate with other members via chat or call.
  • Access the MoneyClubber dashboard, where you can track your transactions, performance, and progress. You can also access reports, statements, and analytics on your Money Clubs. You can also download or share them with your contacts via email, WhatsApp, or other apps.

Why should you use MoneyClubber?

MoneyClubber offers many benefits for people who want to save, invest, and borrow money more efficiently and effectively. Here are some of the reasons why you should use MoneyClubber for your financial needs:

  • Save money for your changing life situations: MoneyClubber helps you save money for your short-term and long-term goals, such as education, health, travel, wedding, business, and more. You can also choose from various Money Clubs that suit your interest, budget, and duration. You can also save money with your friends, family, or colleagues, and enjoy the social and emotional benefits of saving together.
  • Invest money for higher returns: MoneyClubber helps you invest money for higher returns than traditional bank deposits or mutual funds. You can earn interest on your contributions, as well as get rewards for your achievements. You can also diversify your portfolio by joining multiple Money Clubs in different categories and durations. You can also leverage the power of compounding by reinvesting your lump sum in new Money Clubs.
  • Borrow money for your urgent needs: MoneyClubber helps you borrow money for your urgent needs, such as medical emergencies, business expansion, debt consolidation, and more. You can borrow money from your own Money Club, or from other Money Clubs on the platform. You can also borrow money at low or zero interest rates, and with flexible repayment terms. You can also avoid the hassle and risk of borrowing from informal sources, such as moneylenders, friends, or relatives.
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MoneyClubber is a platform that enables people to form and join Money Clubs with other verified peers, and save, invest, and borrow money more efficiently and effectively. MoneyClubber is based on the concept of ROSCAs, which are informal groups of people who pool their money and take turns to receive the lump sum. MoneyClubber is designed to be simple, secure, and transparent, and can be used by anyone, anywhere, and anytime.

If you are looking for a platform for community banking, you should definitely give MoneyClubber a try. You can download the app or visit the website and apply to join a Money Club of your choice. You can also visit the MoneyClubber for more information and updates. MoneyClubber is the platform for community banking. Try it today and see the difference for yourself.

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