Buyofuel, a biofuel marketplace in India has raised Rs 4.5 crore non-dilutive capital fund from Recur Club. 

The company will fulfill its working capital needs with the newly-infused fund. It will optimise cash flows and manage liquidity on the platform. In addition to this, the brand is planning to fuel its international expansion and technological advancements. 

Prior to this, Buyofuel raised Rs 11.5 crore in a Pre-Series A funding round last November.

Buyofuel aims to grow 10x in this financial year by building a curated marketplace that caters to all stakeholders in the biofuel industry. The company has claimed that working capital financing will continue to play an important role in its growth and manage liquidity as the platform scales. 

On the fund-raise, Kishan Karunakaran, Founder and CEO, said, “I am thrilled to witness the remarkable partnership we have cultivated with Recur Club. Our experience has been nothing short of exceptional, where great trust and collaboration have been fostered. Their unwavering dedication and willingness to go above and beyond have truly exceeded our expectations.”

Eklavya Gupta, Co-founder of Recur Club, said, “Buyofuel has demonstrated exceptional potential in bridging the demand and supply gap in the industry, and we believe in their mission to promote sustainable and low-carbon energy solutions. We are proud to be part of their success story and look forward to a fruitful collaboration."