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Recur Club Partners With Faad Network To Allocate Up To Rs 50 Crore

Recur Club collaborates with Faad Network to impact the start-up ecosystem with equity and alternate financing model

Recur Club Partners With Faad Network To Allocate Up To Rs 50 Crore
Eklavya Gupta, founder and co-CEO at Recur Club

Outlook Start-Up Desk

POSTED ON February 17, 2023 5:35 PM

Recur Club joins hands with Faad Network to allocate up to Rs 50 crore in non-dilutive growth capital for Faad Network Portfolio Companies. The collaboration aims to create a pool of investors that will nurture start-ups and hand-hold them throughout the journey. Given the funding winter affecting venture capitalist investors, Recur Club’s alternative financing model is said to be a unique opportunity for start-ups. 

Recur Club and Faad Network will target investing in about 100 start-ups by the end of 2024.
 
“Despite the global economic conditions, our unique approach to financing will continue to be in high demand. Our collaboration with Faad Network, which is a bridge between growing start-ups and investors, will allow us to support a diverse array of start-ups. We look forward to continuing to help startups navigate the current economic climate and support their growth together.” said Eklavya Gupta, founder and co-CEO (chief executive officer) at Recur Club. 

“At Faad Network, we have established ourselves as a premier facilitator of connections between burgeoning start-ups and investors. Our partnership with Recur Club allows us to expand our reach and support a diverse array of start-ups, particularly those in the subscription and recurring revenue space. We eagerly anticipate the potential outcomes of this collaboration,” added Aditya Arora, CEO at Faad Network.

Faad Network is a Securities and Exchange Board of India (SEBI) registered category 1 fund with a corpus of Rs 300 crore. Founded in 2015 by Dr Dinesh Singh and Karan Verma, Faad has invested over Rs 75 crore in over 65 start-ups across tech sectors. Its portfolio includes start-ups like Blu Smart, Battery Smart, Hesa, WCube, Cleardekho, Huviair and Beyond Snacks. The average cheque size is usually $50,000 to $1 million.

Recur Club currently works with companies that have predictable annual revenue from existing customers of at least $100,000, greater than one year of vintage, and more than three months of runway.

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