Liquid.vc and other leading angel investors from the United States, Middle East and Southeast Asia also participated in the round.
The company said it will use the funds to boost its international business and for growth initiatives.
Founded in 2016, Advantage Club is a platform for employee engagement and financial wellness, with benefits like perks, rewards and early wage access on a single platform.
At present, the company has operations in over 60 countries, including India, the Philippines, Malaysia, Vietnam, Indonesia, Egypt, USA, UAE, and others.
“We are growing 20% month on month and this growth has come on the back of re-inventing the wheel around employee benefits and engagement by building deep engagement products further personalized according to each user’s behaviour,” said Sourabh Deorah, CEO and co-founder, Advantage Club.
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“With the new fundraise, we are gearing to take our platform to an unexplored new customer base internationally, especially in SEA, MENA and North America markets and add financial wellness products like Early Wage Access to our existing comprehensive employee engagement platform,” he added.
The company works with more than 370 companies including Concentrix, Teleperformance, Hexaware, EY, Target, among others. It is currently focused on India, SEA and MENA regions, chasing a $13 billion revenue opportunity.
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