Posted by New Delhi: HR tech platform Keka HR for SME businesses in India, raised $1.6 million in non-dilutive funding via Recur Club – a subscription-based financing platform.
In just two days, Recur Club’s subscription-based financing platform helped to infuse capital without any dilution of equity, restrictive debt, or any lengthy paperwork. Keka HR will utilise this funding for growth and acquiring customers through marketing and sales efforts.
“We were scouting to raise a bridge round to fund our growth for the next year and stumbled upon Recur Club. The platform was quite easy to use and the amount of time required to get access to the funds was magically fast,” said Vijay Yalamanchili, CEO – Keka HR.
“With Recur Club we were able to close the transaction in a couple of days. Most importantly we were able to raise funds without any collateral which generally makes it impossible for entrepreneurs to raise any money in early stages,” added Yalamanchili.
Recur Club is Asia’s first and only trading platform for companies with recurring revenue streams that gives fast access to growth capital. It connects companies directly with institutional investors to trade their subscriptions for upfront cash.
Recur Club partners with companies by unlocking fast, flexible, transparent, and non-dilutive capital at every stage of their journey and provides an ecosystem to amplify their growth.
“At Recur Club we are obsess about helping founders such as Vijay at KekaHR, by providing an alternative way to raise growth capital without equity dilution or restrictive debt,” said Eklavya Gupta, Founder and Co-CEO, Recur Club.
“In my 11 years of experience in the investment industry, I have seen deals take upwards of 6 months to actual cash in bank. We have come up with a more efficient solution by making recurring revenue contracts fully liquid and tradeable as an asset and enabling founders to raise growth capital within 48 hours,” added Gupta.
“Recur Club is the fastest way to cash in bank! Since our launch earlier this year, we have grown exponentially with over $40 million tradeable recurring revenue listed on our platform,“ informed Gupta.
Keka HR is looking at Recur Club as a long term growth partner.