Recur Club and InCred announced plans to enhance rapid debt financing solutions for fast-growing companies, aiming to democratise founder access to capital.
Having already disbursed over Rs 200 crore in debt capital, both firms are now planning to inject an additional Rs 300 crore into start-ups.
Recur Club and InCred announced plans to enhance rapid debt financing solutions for fast-growing companies, aiming to democratise founder access to capital.
Both firms have so far disbursed over Rs 200 crores in debt capital. Now the planning is to infuse another Rs 300 crore in start-ups in the field of SaaS, Tech Services, B2B Marketplaces, D2C, and Logistics, a statement read.
The statement added that the lenders can leverage Recur Club's streamlined capital journey, top-notch underwriting, and expansive database. Recur Club's advanced analytics and data-driven insights further aid InCred in tailoring products to individual company needs.
Eklavya Gupta, co-founder and CEO of Recur Club, stated, "The fintech landscape in India is witnessing explosive growth. We aim to take a step toward democratizing access to capital. Both Recur Club and InCred share a deep commitment to financial inclusion for businesses that might otherwise fall through the cracks of traditional funding models.”
Valued at $1.04 billion, InCred became the second company to gain unicorn status last year. It plans to invest heavily in the expansion of its core business verticals, which are consumer loans, student loans, and MSME lending, all three of which have seen strong growth.
Nishith Maheshwari, head of digital business loans and RBF at InCred commented, "With Recur Club's advanced underwriting process and a diverse database of high-growth companies across sectors, we have seen a significant increase in lead flow. This fosters growth and innovation in the startup ecosystem, enabling founders to focus on building their businesses without the traditional fundraising constraints."
Recur Club's advanced underwriting process analyzes financial data to evaluate businesses based on various important factors like revenue predictability, growth, customer churn rate, payment history, etc. This valuable information determines customized financing limits that benefit InCred's range of financial products and allows it to offer precise loan solutions such as term loans and customized credit, the statement read.
Recur Club has disbursed over Rs 1000 crores to over 500 companies, including Ustraa, Moveinsync, Keka HR, Xoxodays, and others, enabling them to experience unrestricted growth.