New Delhi, Sept. 29 -- Debt marketplace Recur Club has raised $50 million (around Rs 443.8 crore) in a mix of equity and debt.
The raise includes $8 million in equity funding, led by InfoEdge Ventures, LC Nueva, Physis Capital, String Ventures, and Finvolveia, and $42 million in debt from financial institutions such as Incred, Ugro Capital, Aditya Birla Capital, and Lighthouse Canton.
The company plans to use the funds to accelerate the growth of its AI-native debt marketplace, launch new products, expand into tier II and III cities, and invest further in its technology infrastructure.
Prior to this round, the company had raised around Rs 230 crore in April 2022 in a mix of equity and debt from InfoEdge Ventures, Village Global, Aditya Birla Finance, and Incred Financial Services.
"Founders choose Recur Club because we make debt raising a simple, transparent, and fast process by curating ideal capital structures mapped with the company's business plan," said Eklavya Gupta, founder and co-CEO of Recur Club. "By 2030, our ambition is to power 2% of India's $1 trillion SME and startup debt market.," he added.
Recur Club says it has connected more than 2,000 companies with over 100 institutional lenders across 30-plus customized debt products, including cashflow financing, asset financing, working capital, invoice discounting, venture debt, acquisition financing, structured debt, and lease financing.
It has worked with companies across sectors like SaaS, tech services, D2C (direct-to-consumer), manufacturing, financial services, pharmaceuticals, solar and agriculture. Its AI engine, AICA (AI Credit Analyst), is said to have cut over 80% of time spent on data collection, data room management, deal execution, due diligence, and CAM creation.
Since inception, Recur Club has facilitated over Rs 3,000 crore in debt sanctions for firms such as MoveInSync, Zypp, Sagar Asia, Kimbal, Captain Fresh, and Palmonas, offering a mix of secured and unsecured disbursals.
It claims to have grown 120% year-on-year and is targeting an annual debt run-rate of Rs 10,000 crore by FY27.
Published by HT Digital Content Services with permission from VC Circle.