Recur Technologies PTE, a Singapore-based financing platform, announced fundraising of $30 million in a combination of equity and debt from a clutch of Indian investors.
The financial technology startup operates in India through its Delhi-based subsidiary called Recur Club Technologies. InfoEdge Ventures, the investment arm of Info Edge (India) and Village Global have invested $2 million in equities of the parent company.
The balance of $28 million (Rs 210 crore) is raised in rupee-denominated debt from Aditya Birla Finance, U GRO Capital, Incred Financial Services, and a few others.
The funding happened in August last year. The company got it credited this year between January and March, said Abhinav Sherwal, co-chief executive at Recur Club.
Founded in 2021 by two batchmates from IIM Calcutta Sherwal and Eklavya Gupta, Recur Club offers finances against recurring future revenues.
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