BridgeUp, a recurring income trading platform, announced on Thursday that it had secured $1 million in early investment from well-known investors and industry heavyweights. Darshan Patel, the founder of Vini Cosmetics, was the major investor. Rajesh Doshi, Founder and Managing Director of Steer Advisors, Kunal Haria, Principal, IIFL Wealth, Aaryaman Vir, Cofounder, Prophetic Ventures, Rohan Suri, Director, KKR and Co, Ankit Aggarwal, Principal, KKR and Co, Sumeet and Hemant Kabra, RR Global, and Harman Sachdeva are among the other investors. BridgeUp, which launched in 2020, is APAC’s first recurring revenue trading platform, allowing businesses to access capital rapidly without the headaches of traditional fundraising, including debt and dilution.
Zeus Dhanbhura, Founder and CEO, BridgeUp said, “The company plans to utilize the funds for product development, team expansion, and further scaling up operations. We have facilitated significant disbursal in capital to companies on our platform. The types of companies ranging from B2B SaaS, EV Charging, Services to co-working spaces and more; we are attracting a healthy mix across the entire target segment of recurring revenue-based companies.”
“The rates at which we are disbursing these amounts is by far the lowest in India and closely comparable to our competitors in the western markets which is a tremendous feat considering the difference in lending rates in India and the West. As our name suggests, we are helping bridge multiple gaps in the financial world. The total volume of contracts on our platform is in excess of $150m already,” he said.
