Recur Club Raises USD 50 Mn to Expand AI-Powered Debt Marketplace The company plans to utilise the fresh funds to scale its team, strengthen its technology infrastructure, and expand operations into tier II and III cities.
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Recur Club, a debt marketplace catering to startups and small and medium-sized enterprises (SMEs), has secured USD 50 million in a mix of equity and debt.
The Delhi-based company raised USD 8 million in equity funding led by InfoEdge Ventures, with participation from LC Nueva, Physis Capital, String Ventures, and iA Finvolve.
The remaining USD 42 million was raised in the form of debt from financial institutions such as Incred, Ugro Capital, Aditya Birla Capital, and Lighthouse Canton.
The company plans to utilise the fresh funds to scale its team, strengthen its technology infrastructure, and expand operations into tier II and III cities. A key focus will be enhancing its AI-powered platform, which includes an 'autopilot' financing feature designed to help startups and SMEs access credit faster and more efficiently.
Recur Club has also developed AICA, an AI Credit Analyst that integrates with multiple data sources to instantly create financial and compliance reports.
According to co-founder and co-CEO Abhinav Sherwal, AICA reduces over 80 percent of the time typically spent on data collection, deal execution, and due diligence. The tool supports lending agents and co-pilots in matching borrowers with suitable lenders at a much faster pace, enabling unsecured loans within 48 hours and structured collateral-backed financing in under three weeks, compared to the traditional three-month timeline.
Since its inception in 2021, Recur Club claims to have connected more than 2,000 companies with over 100 institutional lenders, offering more than 30 customised debt products. These include cashflow and asset financing, invoice discounting, venture debt, acquisition financing, structured debt, and lease financing.
The platform caters to a wide range of sectors, including software-as-a-service, direct-to-consumer brands, manufacturing, pharmaceuticals, agriculture, and solar energy.
So far, the company claims to have facilitated debt sanctions worth over INR 3,000 crore, backing businesses such as MoveInSync, Zypp, Sagar Asia, Kimbal, Captain Fresh, and Palmonas.
Looking ahead, cofounder and co-CEO Eklavya Gupta stated that by 2030, Recur Club aims to power 2 percent of India's projected USD 1 trillion SME and startup debt market by making credit more accessible.
