Finfluencer Sharan Hegde’s financial edtech platform The 1% Club has secured registered investment adviser (RIA) licence from the Securities and Exchange Board of India (SEBI).

The licence will allow the startup to offer personalised one-on-one financial planning services to its members, The 1% Club said in a statement.

The startup claims that its “personal CFO division” has a team of 40 people and is managing INR 750 Cr in assets under advisory (AUA).

The startup is now eyeing to expand to major Indian cities. According to The 1% Club, it is planning to capture about 5-10% of India’s need of a million financial advisors in the next decade.

“At 1% Club, we want to build trust, credibility, and a lasting legacy for India’s rising middle class. While the journey ahead will be tough, we are prepared to lead with integrity, scale nationally, and meet the evolving financial needs of millions. This is just the beginning; our vision includes acquiring more SEBI licenses to offer robust investment products like stock recommendations, small cases, and high-yielding debt solutions,” Hegde said.

Founded in 2022 by Hegde and Raghav Gupta, The 1% Club is a members-only financial education platform that offers educational resources, mentorship, and networking avenues for its paid members.

The startup raised INR 10 Cr in its pre-Series A funding round led by Zerodha cofounder Nikhil Kamath-backed venture capital (VC) firm Gruhas.

(The story will be updated soon.)

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