Indian fintech start-up Recur Club secures $30m seed funding
Indian alternative B2B financing start-up Recur Club has raised $30 million in seed funding made up of a combination of equity and debt allocation from InfoEdge Ventures, Village Global and Titan Capital, among others.
The money raised will be used to scale the firm’s platform “to unlock fast, flexible and hassle-free growth capital without dilution”, Recur Club says.
The fintech claims more than 5x growth over the last two quarters and is working with more than 550 companies with $150 million of annual recurring revenue listed on the platform.
Recur Club was founded in 2021 by co-CEOs Abhinav Sherwal and Eklavya Gupta and is based out of India’s capital, New Delhi.
The platform’s alternative financing solution enables companies to trade future revenue contracts and subscriptions at a discount to receive non-dilutive capital upfront.
This recurring revenue model is designed to “revolutionise financing and democratise access to capital for all founders”, says co-CEO Sherwal.
He adds the new funding has “strengthened our resolve to become the most founder friendly platform to raise growth capital”.