Recur Club, a debt marketplace for startups, has launched its latest credit offering, Recur Scale. This initiative aims to finance Series A, B, and beyond startups and SMEs with revenues of Rs 40 crore and above, providing debt offerings of up to Rs 100 crore.
Recur Scale caters to various sectors, including SaaS, Tech, E-commerce, Manufacturing, EV, D2C, and Agritech. The credit offerings encompass secured term loans, venture debt, acquisition financing, operating leases, working capital loans, bill discounting, vendor financing, and more.
With transparency as a core principle, Recur Club plans to deploy Rs 1000 crore through the Recur Scale program and an additional Rs 2000 crore via its Recur Swift program for startups in FY 24-25. Using AI-backed matchmaking, Recur Scale connects borrowers with relevant lenders, facilitating efficient discovery and selection of credit offers. The company has partnered with over 120 marquee lenders, including InCred.
Eklavya Gupta, Co-funder and CEO of Recur Club, stated, “Recur Scale was born out of a genuine need expressed by our growing customers. Our goal is to save their time spent approaching different lenders and to help them have clear visibility of different credit offers on our marketplace.”
Recur Scale has seen increasing adoption, accounting for 15% of Recur Club’s monthly Gross Transaction Value (GTV) for the quarter ending March 2024. Recur Club aims to double this figure in the ongoing quarter by adding new customers and expanding its reach.
Earlier this month, Recur Club partnered with InCred to disburse Rs 300 crore to early and mid-range startups. Recur Scale is designed to help mature businesses secure large capital for expansion, offering tailored financing solutions and trusted advisory services.
