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Recur Club & InCred Join Forces To Fund Rs 300 Cr For Startups In 2024

Updated: Mar 28, 2024 03:05:18pm

Recur Club & InCred Join Forces To Fund Rs 300 Cr For Startups In 2024

New Delhi, Mar 28 (KNN) Recur Club and InCred have announced a strategic partnership to provide Rs 300 crore in debt financing for early and mid-stage startups across India in 2024.

This collaboration aims to bridge the funding gap and provide quick access to capital for high-growth companies.

The funding will be directed towards diverse sectors within the Indian market, including SaaS, Tech Services, B2B Marketplaces, D2C, and Logistics.

The partnership leverages Recur Club's advanced underwriting process and InCred's expertise in lending to support innovative businesses.

"The fintech landscape in India is witnessing explosive growth," said Eklavya Gupta, co-founder and CEO of Recur Club. "We aim to take a step toward democratising access to capital. Both Recur Club and InCred share a deep commitment to financial inclusion for businesses that might otherwise fall through the cracks of traditional funding models."

Prior to 2024, the two entities had already disbursed over Rs 200 crore as debt capital to support new-age Indian startups.

Nishith Maheshwari, Head of Digital Business Loans and RBF at InCred, emphasised the impact of the partnership, saying, "With Recur Club's advanced underwriting process and a diverse database of high-growth companies across sectors, we have seen a significant increase in lead flow. This fosters growth and innovation in the startup ecosystem, enabling founders to focus on building their businesses without the traditional fundraising constraints."

In addition to the startup funding initiative, InCred plans to invest in the expansion of its core business verticals, including consumer loans, student loans, and MSME lending, all of which have seen strong growth.

The partnership between Recur Club and InCred is expected to play a vital role in supporting the growth and success of India's vibrant startup ecosystem.

(KNN Bureau)


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