Keka HR, HR tech platform for SME businesses in India, raised $1.6 million non-dilutive growth capital through Recur Club, a new-age subscription-based financing platform.
Keka will be using the funds for growth and customer acquisition by investing in marketing and sales.
Vijay Yalamanchili, CEO at Keka HR said: "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."
Recur Club is Asia’s first and only trading platform for companies with recurring revenue streams that gives access to growth capital at the click of a button. Recur Club connects companies directly with institutional investors to trade their subscriptions for upfront cash - it’s like your monthly or quarterly customers just paid you upfront instantly. 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.
Eklavya Gupta, Founder/Co-CEO, Recur Club said “At Recur Club we obsess about helping founders such as Vijay at KekaHR, by providing an alternative way to raise growth capital without equity dilution or restrictive debt. Since our launch earlier this year, we have grown exponentially with over $40 million tradeable recurring revenue listed on our platform.“
Keka is looking at Recur Club as a long-term growth partner, to continue enabling HR teams to adapt, evolve, and scale by working more effectively, it said in a press release.
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