Recur Club launches Recur Scale, offers debt solutions up to Rs 100 Cr for startups and SMEs

Recur Club, a debt marketplace for startups, has introduced Recur Scale, its newest credit solution to finance Series A, B, and later-stage startups, as well as small and medium enterprises (SMEs) with annual revenues of Rs 40 crore or more. The programme will also provide debt offerings of up to Rs 100 crore.

The initiative will be accessible to various sectors, such as SaaS, technology, ecommerce, manufacturing, electric vehicles (EV), and direct-to-consumer (D2C). The credit options available for startups and SMEs are secured term loans, acquisition financing, operating leases, venture debt, working capital loans, bill discounting, and vendor financing.

Additionally, the Gurugram-based company plans to allocate a total of Rs 1,000 crore with the Recur Scale programme for startups and SMEs, along with deploying an extra Rs 2,000 crore via its Recur Swift program for startups in the fiscal year 2024-25, the company said in a release.

The programme utilises AI-powered matchmaking to connect borrowers with lenders, allowing them to discover, compare, and select credit offers. The company has collaborated with over 120 marquee lenders, including InCred and Tata Capital.

“Recur Scale was born out of a genuine need expressed by our growing customers. As their revenues increased with our cash flow-based credit, their credit needs also evolved. There was a clear demand for diverse credit structures within the Recur Club ecosystem," said Eklavya Gupta, CEO and Co-founder of Recur Club.

"Our goal is to save their time spent approaching different lenders and to help them have clear visibility of different credit offers on our marketplace.”

According to the company, the programme has seen increasing adoption among startups and SMEs, contributing 15% to Recur Club’s monthly Gross Transaction Value (GTV) for the quarter ended in March 2024. In the current quarter, Recur Club aims to double this percentage by attracting new customers and broadening its reach.

Recently, Recur Club partnered with fintech unicorn InCred to disburse Rs 300 crore to early- and mid-stage startups.

Recur Scale aims to help businesses secure large capital for expansion. It offers various financing solutions, providing access to large capital, credit options, and trusted advisory services.

(The copy was updated to remove a reference to the name of a marquee lender.)