Recur Club, and InCred, will disburse INR 300 crores in 2024.
In a strategic move aimed at bridging the funding gap for early and mid-stage startups in India, Recur Club and InCred have joined forces to provide quick debt financing solutions for high-growth companies. Their collaborative effort seeks to democratize access to capital for founders, enabling them to scale their businesses effectively.
Having disbursed over INR 200 crores as debt capital until 2023, the partnership between InCred and Recur Club has already made significant strides in supporting the burgeoning Indian startup ecosystem. With a target of INR 300 crores for the year 2024, the funding will be directed across various sectors, including SaaS, Tech Services, B2B Marketplaces, D2C, and Logistics, among others.
Recur Club’s efficient capital journey, coupled with industry-leading underwriting and access to a diverse database, empowers lenders to better assess the new-age startup landscape. The platform’s advanced analytical reports and data-driven insights assist InCred in tailoring financial products to suit the unique needs of different companies.
Eklavya Gupta, Co-Founder and CEO of Recur Club, expressed his vision, stating, “The fintech landscape in India is witnessing explosive growth. We aim to take a step toward democratizing access to capital.” Gupta highlighted the shared commitment of Recur Club and InCred to promoting financial inclusion for businesses that may otherwise struggle to secure funding through traditional channels.
Valued at $1.04 billion, InCred attained unicorn status last year, solidifying its position as a key player in the fintech space. The company plans to invest significantly in expanding its core business verticals, including consumer loans, student loans, and MSME lending, all of which have experienced robust growth.
Nishith Maheshwari, Head of Digital Business Loans and RBF at InCred, emphasized the positive impact of Recur Club’s advanced underwriting process and diverse database on lead generation. Maheshwari noted that this collaboration fosters growth and innovation in the startup ecosystem, allowing founders to focus on scaling their businesses without traditional fundraising constraints.
Recur Club’s advanced underwriting process analyzes key financial metrics such as revenue predictability, growth trajectory, customer churn rate, and payment history to evaluate businesses effectively. This valuable information enables InCred to offer customized financing solutions tailored to the specific needs of each company, including term loans and bespoke credit options.
Moreover, Recur Club’s team of capital experts assists companies in selecting the best debt offers from a network of over 100 marquee lenders, including InCred, Tata Capital, Aditya Birla Capital, and others.
The collaboration between Recur Club and InCred signifies a significant step forward in democratizing access to capital for startups in India, fueling innovation and driving economic growth in the region.
