Recur Club, InCred plan to provide Rs 300 crore funding to startups in 2024
The companies claim to have invested over Rs 200 crore together as debt capital till 2023 to support new-age startups. Recur Club's advanced analytical reports and data-driven insights help InCred customise goods for various firms.
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06:11 PM IST
Financial services firms Recur Club and InCred plan to invest Rs 300 crore in early and mid-sized startups in India in 2024. The funding will be primarily made across sectors like SaaS, tech services, B2B marketplaces, D2C, and logistics, among others, according to a statement.
"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," said Nishith Maheshwari, head of digital business loans at RBF, InCred.
Meanwhile, the companies claim to have invested over Rs 200 crore together as debt capital till 2023 to support new-age startups. Recur Club's advanced analytical reports and data-driven insights help InCred customise goods for various firms.
"The fintech landscape in India is witnessing explosive growth. We aim to take a step towards democratising 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," said Eklavya Gupta, co-founder and CEO of Recur Club.
What does InCred do?
InCred Group, a financial services firm, has a presence in areas like financing, investment banking, wealth management, asset management, and institutional equities. Bhupinder Singh founded InCred Finance, the group's lending arm, in 2016 as a new-age lending institution centred around technology and risk analytics. InCred, valued at $1.04 billion, became the second business to achieve unicorn status last year.
Recur Club's business
Recur Club helps businesses raise loans as per their specific requirements. Since 2021, the fintech platform has given over Rs 1000 crores to over 500 firms, including Ustraa, Moveinsync, Keka HR, Xoxodays, and others, enabling them to enjoy unfettered growth.
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