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Recur Club launches debt offerings for startups beyond Series A and SMEs

EntrackrEntrackr · 1y ago
Recur Club launches debt offerings for startups beyond Series A and SMEs
Medial

Debt marketplace for startups Recur Club has announced its latest credit offering, Recur Scale for financing Series A, B, and beyond startups and SMEs with revenues of Rs 40 crore and above. It will provide debt offerings of up to Rs 100 crore or about $12 million, the company said in a release. Recur Scale is available for a wide range of sectors such as SaaS, e-commerce, manufacturing, EV, D2C, agritech, and others. The credit offerings for startups and SMEs include secured term loans, venture debt, acquisition financing, operating leases, working capital loans, bill discounting, and vendor financing, among others. According to Recur Club, it plans to deploy a total of Rs 1,000 crore with the Recur Scale program for startups and SMEs, along with an additional Rs 2,000 crore through its Recur Swift program for startups in FY25. Founded in 2021 by Abhinav Sherwal and Eklavya Gupta, Recur Scale uses AI-backed matchmaking to connect borrowers with relevant lenders for efficiently discovering, comparing, and selecting credit offers. The company has partnered with over 120 marquee lenders, such as InCred, Tata Capital, Aditya Birla Capital, among others., and targets to be the one-stop solution for the financing of startups. Earlier this month, Recur Club had partnered with InCred, a new-age financial platform, to disburse Rs 300 crore to early and mid-range startups. In August last year, Recur Club also launched $10 million worth Regreen Fund to back startups actively working towards a greener and more sustainable future.

Recur Club launches Rs 150 Cr fund for D2C brands on QCP

EntrackrEntrackr · 6m ago
Recur Club launches Rs 150 Cr fund for D2C brands on QCP
Medial

Recur Club launches Rs 150 Cr fund for D2C brands on QCP Recur Club, a debt marketplace for startups and SMEs, has launched a Rs 150 crore ($18 million) fund to accelerate the growth of D2C brands in the quick commerce sector. This initiative aims to provide growth and working capital for these brands to acquire additional inventory or boost marketing efforts. The fund targets loan disbursal within seven days. Recur Club’s debt offerings are designed to meet the unique financial needs of businesses across various revenue and profitability stages. The Indian quick commerce market is expected to expand at a CAGR of over 25% leading up to 2030, and the D2C sector is anticipated to exceed $60 billion by 2027. Recur Club says that this new fund aligns with its aim to fuel the growth of ‘Make-in-India’ startups, particularly in the quick commerce segment of the D2C market. Some notable brands that have benefited from its funding include Ustraa and Wellversed. “With more than half of the 300 consumer brands we've financed utilizing quick commerce platforms, it's clear that these businesses are primarily investing in scaling inventory to keep pace with consumer demand and employing strategic marketing efforts,” said Eklavya Gupta, CEO & co-founder of Recur Club. Recur Club offers loans to startups and businesses, ranging from Rs 50 lakhs to Rs 100 crore within 48 hours by linking their financial data. In collaboration with InCred, it has deployed Rs 300 crore in funding aimed at supporting early and mid-stage startups. Recur Club has committed to deploying Rs 2,000 crore in debt funding for startups and SMEs through Recur Scale and Rs 1,000 crore to MSMEs through Recur Swift in this financial year. As part of this initiative, the company has launched its "Recur Scale" facility, which offers up to Rs 100 crore in funding for individual startups or SMEs. Over the last three years, Recur Club has disbursed over Rs 500 crore to D2C businesses, comprising 30% of its overall portfolio and spanning companies with revenues ranging from ₹1 crore to Rs 300 crore. It is backed by institutional investors like InfoEdge Ventures, Village Global, LC Nueva, and Titan Capital.

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