PE-VC Fund Investments
B2B debt marketplace Recur Club raises $50-M from InfoEdge, LC Nueva, others
Delhi-based fintech company Recur Club has raised USD 50 million in a mix of equity and debt to expand its artificial intelligence (AI)-native debt marketplace for startups and small and medium enterprises (SMEs).The company raised USD 8 million in equity led by InfoEdge Ventures with participation from LC Nueva, Physis Capital, String Ventures, and iA Finvolve. The remaining USD 42 million was raised in debt from Incred, Ugro Capital, and Lighthouse Canton.Founded in 2019, Recur Club operates a debt marketplace connecting businesses with more than 150 institutional lenders. The platform claims to use artificial intelligence (AI) to match companies with the right lenders across products such as working capital, venture debt, asset financing, and invoice discounting.The fresh capital will be used for product expansion, technology investment, and to strengthen presence in Tier II and Tier III markets.
In Apr 2022, Recur Club had attracted seed funding of USD 30 M from Adept Ventures, Info Edge, Village Global and others.For FY24, Recur Club had reported about INR 10 Cr in Operating Income and about INR 1 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
