Recur Club and InCred have announced to bridge the funding gap for early and mid-stage startups in India. Together, they said they would amplify quick debt financing solutions for high-growth companies and provide access to capital for founders.
For 2024, the entities have set a target to fund ₹300 crore which will be primarily directed across diverse sectors within the Indian market, such as SaaS, Tech Services, B2B Marketplaces, D2C, and Logistics.
Till 2023, InCred and Recur Club said they had together disbursed more than ₹200 crore as debt capital to support new-age Indian start-ups.
Eklavya Gupta, co-founder and CEO of Recur Club, stated, “The fintech landscape in India is witnessing explosive growth. 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.”
InCred plans to invest in the expansion of its core business verticals, which are consumer loans, student loans, and MSME lending, all three of which have seen strong growth.
Nishith Maheshwari, Head of Digital Business Loans and RBF, InCred said, “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.”
