Buyofuel Secures $550,000 Non-Dilutive Capital Via Recur Club The funds will be allocated for working capital needs, to optimize cash flows and to manage liquidity on the platform

A Biofuel marketplace, Buyofuel, has raised $550,000 non-dilutive capital via Recur Club. The funds will be allocated for working capital needs, to optimize cash flows and to manage liquidity on the platform. According to the company, it plans to double down on its international expansion, and technological advancements with the infusion of growth capital.

"I am thrilled to witness the remarkable partnership we have cultivated with Recur Club. Our experience has been nothing short of exceptional, where great trust and collaboration has been fostered. Their unwavering dedication and willingness to go above and beyond have truly exceeded our expectations," said Kishan Karunakaran, founder and CEO, Buyofuel.

In November last year, Buyofuel raised INR 11.5 crore in pre-Series A funding. In an official release, it also claimed that Buyofuel aims to grow 10 times in this financial year by building a curated marketplace that caters to all stakeholders in the biofuel industry. Working capital financing will continue to play an important role in their growth and manage liquidity as the platform scales.

Buyofuel offers all types of biofuels and organic wastes which helps fuel consumers to easily switch to biofuels and allows biofuel manufacturers to easily access organic wastes, enabling users to buy, sell and utilize low carbon and sustainable biofuel in a hassle-free way.

"Buyofuel has demonstrated exceptional potential in bridging the demand and supply gap in the industry, and we believe in their mission to promote sustainable and low-carbon energy solutions. We are proud to be part of their success story and look forward to a fruitful collaboration," said Eklavya Gupta, co-founder, Recur Club.