Recur Club, an AI-native debt marketplace for startups and SMEs, has raised $50 million in a mix of equity and debt. The round includes $8 million in equity led by InfoEdge Ventures, LC Nueva, Physis Capital, String Ventures, and Finvolve, alongside $42 million in debt allocation from lenders such as Incred, Ugro Capital, Aditya Birla Capital, and Lighthouse Canton.
The funding comes at a time when startups and SMEs are seeking faster, more transparent access to debt amid traditional lending delays.
With the new funds, the platform aims to expand product offerings and scale into Tier-2 and Tier-3 cities, targeting an annual debt run-rate of Rs 10,000 crore by FY27.
Recur Club was founded in 2021 by Eklavya Gupta and Abhinav Sherwal, both alumni of IIM Calcutta. Gupta, with an engineering background from NSIT Delhi, brings over 11 years of experience in capital markets, private equity, and structured credit from roles at Nomura, Kotak, Bank of America Merrill Lynch, and Ivanhoé Cambridge. Sherwal, an IIM Calcutta graduate, previously served as a Senior Product Manager at Gartner.
“The raise will help us expand from cashflow financing to a full debt suite, build AI-native co-pilots for underwriting and fraud analytics, and establish lean local pods for Tier-2/3 expansion," Gupta told Moneycontrol.
At the core of Recur Club is its proprietary AI Credit Analyst, AICA, which streamlines data collection, due diligence, and deal execution, reducing process time by over 80%.
Since its inception, Recur Club claims to have connected over 2,000 companies to 100 and more institutional lenders across 30 debt products, covering cashflow financing, working capital, invoice discounting, venture debt, structured financing, and asset-backed loans across sectors such as SaaS, D2C, manufacturing, solar, pharmaceuticals, and agriculture.
Abhinav Sherwal added, “Local pods and anchor partnerships will help us acquire quality borrowers, while AI-driven scoring and digital repayment infrastructure ensure risk control. We plan to start with secured or pilot books before scaling.”
Recur Club has facilitated over Rs 3,000 crore in debt sanctions for companies such as MoveInSync, Zypp, Sagar Asia, Kimbal, Captain Fresh, and Palmonas, reinforcing its mission to redefine debt access for India’s entrepreneurial ecosystem.
“By 2030, our ambition is to power 2% of India’s $1 trillion SME and startup debt market, making debt as accessible as flowing water. This fund raise allows us to standardize underwriting, digitize workflows, and offer a complete debt stack for companies nationwide," Gupta said.
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