Debt marketplace for startups Recur Club has announced its latest credit offering, Recur Scale for financing Series A, B, and beyond startups and SMEs with revenues of Rs 40 crore and above.
It will provide debt offerings of up to Rs 100 crore or about $12 million, the company said in a release. Recur Scale is available for a wide range of sectors such as SaaS, e-commerce, manufacturing, EV, D2C, agritech, and others.
The credit offerings for startups and SMEs include secured term loans, venture debt, acquisition financing, operating leases, working capital loans, bill discounting, and vendor financing, among others.
According to Recur Club, it plans to deploy a total of Rs 1,000 crore with the Recur Scale program for startups and SMEs, along with an additional Rs 2,000 crore through its Recur Swift program for startups in FY25.
Founded in 2021 by Abhinav Sherwal and Eklavya Gupta, Recur Scale uses AI-backed matchmaking to connect borrowers with relevant lenders for efficiently discovering, comparing, and selecting credit offers. The company has partnered with over 120 marquee lenders, such as InCred, Tata Capital, Aditya Birla Capital, among others., and targets to be the one-stop solution for the financing of startups.
Earlier this month, Recur Club had partnered with InCred, a new-age financial platform, to disburse Rs 300 crore to early and mid-range startups.
In August last year, Recur Club also launched $10 million worth Regreen Fund to back startups actively working towards a greener and more sustainable future.
