Debt market for startups Recur Club has unveiled Recur Scale, its newest credit program designed to finance Series A, B, and beyond startups and SMEs with annual revenue of at least Rs 40 crore.
The company announced in a release that it will offer debt offerings up to Rs 100 crore, or roughly $12 million. Many industries are served by Recur Scale, including SaaS, e-commerce, manufacturing, EV, D2C, agritech, and more.
Among the credit options available to startups and SMEs are operating leases, working capital loans, venture capital, secured term loans, vendor financing, bill discounting, and acquisition financing.
Recur Club says that through its Recur Scale program for startups and SMEs, it will invest a total of Rs 1,000 crore; additionally, through its Recur Swift program for startups, it will invest an additional Rs 2,000 crore in FY25.
Recur Scale, which was founded in 2021 by Abhinav Sherwal and Eklavya Gupta, connects borrowers with suitable lenders through AI-backed matchmaking to help them find, compare, and choose credit offers quickly. With partnerships with more than 120 prestigious lenders, including InCred, Tata Capital, and Aditya Birla Capital, among others, the company hopes to become the one-stop shop for startup financing.
Early this month, Recur Club and the cutting-edge financial platform InCred partnered to distribute Rs 300 crore to early- and mid-stage startups.
In August of last year, Recur Club also introduced the $10 million Regreen Fund, which supports startups that are actively pursuing a more sustainable and greener future.
