Efficient Capital Labs (ECL), a fintech company that provides non-dilutive capital to B2B SaaS companies operating in the South Asia-U.S. corridor, has raised  $7 million in a Pre-Series A round led by QED Investors with participation from existing investors including 645 Ventures, The Fund, Lorimer Ventures, Riverside Ventures and Generalist. 

This has been the company’s second fundraising round in less than a year. 

ECL will use this fresh capital to invest in greater automation, expand its team across engineering, product, underwriting, sales and operations and achieve better unit economics.

The latest round of funding led by QED Investors brings the total amount of capital raised by ECL to $110.5 million, which includes a $100 million debt facility. This new round follows the equity raise in April last year of $3.5 million, led by 645 Ventures. 

“Our vision is to enable border-agnostic access to capital for businesses in emerging markets, such as India, that can benefit from lower capital costs that are available in markets such as the U.S.,” Das said.

“Our value proposition is unmatched, we offer the most capital- and time-efficient solution for SaaS businesses looking to raise growth capital. We are immensely grateful to our investors for putting their faith in our vision and mission. The latest fundraise allows us to continue innovating for the customers who we serve,” he added. 

“Indian SaaS companies are known for innovative and specialist software solutions, and their growth in selling to the U.S. represents a new era of entrepreneurship and global collaboration,” said QED Investors Partner and Head of Asia, Sandeep Patil. 

“By providing non-dilutive capital to these companies, ECL empowers the founders to build for the long term and drive innovation and growth. Kaustav and Manish are a formidable team. I am thrilled to partner with them and I look forward to what the future holds,” he noted.