Recur Club joins hands with IVY Growth Associates to allocate up to $10 million in non-dilutive growth capital for IVY Growth Associates Portfolio Companies. The collaboration aims to create a pool of investors that will nurture start-ups and hand-hold them throughout the journey. Recur Club with IVY Growth associates will target investing in about 500 start-ups by the end of 2027, keeping in mind the Indian Government’s ‘Vocal for Local’ and ‘Make In India’ initiatives and vision.
“The current uncertain global macroeconomic situation has resulted in rising interest rates and a liquidity squeeze which has resulted in capital from risky instruments like VC equity drying or investors pushing companies for down rounds. This has further accentuated interest in non-dilutive financing solutions like Recur Club,” said Eklavya Gupta, Founder and Co-CEO at Recur Club.
Founded by Sharad Todi, Shubhangi Toshniwal, Anuj Toshniwal, and Rachit Poddar, IVY Growth Associates is led by individuals having a combined experience of 30+ years in various fields and having collectively invested in 100+ start-ups. IVY Growth comes with a rich experience of leading funding for early-stage start-ups and mentoring them to succeed. Some of their marquee startups include the likes of BluSmart Mobility, Valuationary, Charge Zone, Revamp Moto, Hair Originals, Refrens & Bebe Burp, and many more.
The firm has also collaborated with the Atal Innovation Centres and Incubation Centres all across India where they will scout for potential start-ups. IVY Growth Associates is on a mission to make about 50 start-ups market-ready with investments every year to deliver value and impact in this decade of transformation.
Recur Club currently works with companies who 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.