Buyofuel, a marketplace for biofuels, has raised $550K through Recur Club in non-dilutive capital. In its pre-Series A round, Buyofuel raised Rs 11.5 crore in November of last year.
The money will be used to manage liquidity on the platform, optimize cash flows, and meet working capital requirements. According to a press release from Buyofuel, the company also intends to intensify its efforts to advance both technology and its international reach.
Buyofuel provides a wide range of biofuels and organic wastes, making it simple for users to buy, sell, and use low-carbon and sustainable fuel. This ease of use also enables consumers to switch to biofuels more quickly.
Recur Club, established in 2021 by Abhinav Sherwal and Eklavya Gupta, analyzes its clients’ key metrics through integration with their accounting, billing, and subscription management systems. It works with all businesses that generate at least $100,000 in predictable annual revenue from current clients.
The startup is currently collaborating with co-living company Hooliv, Heal Software, Keka HR, Apis Partner, and Heal Software, which is backed by Avatar Ventures.
