Influencer-focused platform Rigi.Club raises $10 mn in Series A funding - Free Press Journal

FPJ Web Desk | Updated on: Wednesday, April 20, 2022, 12:13 PM IST
Rigi.Club, a platform for creators, influencers and celebrities to grow, manage and monetise their community, announced that it has raised $10M in a Series A funding round.
This round was co-led by Accel India, Sequoia Capital India & Stellaris Venture Partners. Other investors include prominent angel investors like Nitish Mittersain (CEO, Nazara), Apaksh Gupta (CEO, OneImpression), Anupam Mittal (Founder, and creators like Tanmay Bhat & more.
Founded in October 2021 by Swapnil Saurav and Ananya Singhal, Rigi.Club’s mission is to empower creators to manage and monetize their communities.
The platform helps creators and influencers do this efficiently by enabling them to monetize their community across all platforms, be it WhatsApp, Telegram, or Instagram. Furthermore, influencers can use this platform to launch courses, conduct paid webinars, and launch free and paid communities through the Rigi app, it said in a press statement.
This Series A fund will be primarily put towards developing a world-class team and product, which will ultimately be scalable across millions of users, it said. was part of the first cohort of Accel Atoms – a program by Accel India to support pre-Seed startups.
Commenting on the announcement, Swapnil Saurav, Co-founder & CEO, Rigi.Club said, “Since our launch, the company has been growing at the rate of nearly 100 percent month-on-month and has crossed the 200k user benchmark. We look forward to a rewarding partnership with Stellaris Venture Partners, with Rahul Chowdhri on the board who brings to bear a nuanced understanding of the consumer-tech landscape and the creator economy.”
Rahul Chowdhri, Partner, Stellaris Venture Partners said, “One of the defining trends in consumer-tech over the next decade will be the notable shift of consumers from platform preferences to creators themselves. With a nudge from the pandemic, we have already been witnessing explosive growth and fascinating levels of engagement with both existing and emerging creators.”
Prayank Swaroop, Partner at Accel India said, “With the creator economy booming, we’re thrilled to be partnering with Rigi.”
The 50M+ global creator population today is largely dependent on ad shares or brand-partnerships for income, which are irregular and quite often unsubstantial. This is largely owing to the fact that direct fanbase monetization is fundamentally broken as the user journey is deeply fragmented wherein each stage in the journey is spread across multiple platforms and tools (discovery, engagement, payment, management).
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