Singapore-based business-to-business (B2B) financial services platform Recur Club raised USD 30 million in a seed funding round. The round took place on April 19, 2022.
InfoEdge Ventures and Silicon Valley fund Village Global led the funding round for Recur Club. The seed funding round also saw participation from Aditya Birla Finance, U GRO Capital, InCred Financial Services, Titan Capital, Adept Ventures and Lykke Capital.
Meanwhile, angel investors such as Kotak Investment’s MD S Srinivasan, AZB & Partners founder and Senior Partner Bahram Vakil, PointOneCapital’s General Partner Archana Priyadarshini and LogiNext’s founder Dhruvil Sanghvi invested in Recur Club.
The fintech startup operates in India via its Delhi-based subsidiary Recur Club Technologies. The recent investment is India’s largest seed funding round.
Purpose of Funding for Recur Club
The company plans to accelerate growth with the recent proceeds by delivering a best-in-class product experience. Recur Club will also look to expand its sales and engineering teams.
Meanwhile, the fintech firm endeavours to become the largest and most accurate financial metrics benchmark for recurring revenue companies.
The funds raised are a combination of equity and debt. Info Edge Ventures and Village Global have invested USD 2 million in equity of the parent company. However, the balance of USD 28 million (Rs 210 crore) is raised in rupee-denominated debt from other investors.
What the founders have to say
“Recurring revenue companies have highly predictable cash flows with the only problem being lagging revenues vs their CAC spends. This gap was being funded by diluting equity or offering huge revenue discounts. We introduced an efficient way that works like your customers paid you today, resulting in us achieving 5x growth in the last two quarters, “Eklavya Gupta, Founder and Co-CEO at Recur Club.
In addition, Abhinav Sherwal, Founder and Co-CEO Recur Club, said, “We obsess about helping founders at every step of their growth journey by unlocking CAPS (Capital, Advisory, Partnership and Sales). Our ‘Club’ members get access to $500k+ worth of specially curated deals from AWS, Microsoft, and Hubspot. Our tech-first approach is a significant improvement in terms of speed, flexibility and convenience, all of which translates into our vision of becoming a full-stack financial suite for founders.”
What the investor has to say
“As the number of recurring revenue companies (specifically SaaS) increases rapidly, Recur Club provides them with an alternative financing platform that complements VC capital and provides a quick turnaround with attractive rates while creating a new asset class for investors looking for fixed income yields,” said Amit Behl, Partner at InfoEdge Ventures.
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 financial services platform Recur Club raised USD 30 million in a seed funding round. The round took place on April 19, 2022.){kind=link}