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.
Recur Club co-CEO Abhinav Sherwal
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”.
