New Delhi, Mar 2 (PTI) Recur Club, a platform where companies with subscription-based business models can raise funds by trading their future recurring revenues, expects to list a minimum of 500 firms with a tradable subscription value of USD 200 million by the end of this year, a company official said on Wednesday. The platform helps subscription-based companies, such as software-as-a-service (SaaS), OTT and pharmacy players, to raise non-equity-based capital to fuel their growth plans or meet current financing needs, Eklavya Gupta, founder and co-CEO of Recur Club, said.
Currently, around 400 companies with a tradable subscription value of USD 120 million are listed on the platform, Gupta said.
Explaining the business model, its co-founder Abhinav Sherwal said Recur Club is a one-stop service for recurring-revenue companies to trade their future revenue into upfront capital instantly.
The Singapore-headquartered company focuses on SAAS, OTT, technology and pharmacy businesses as a market that generates recurring revenue effectively.
“We are a two-sided platform. We handle all technical aspects of the platform.
“These traditional lending institutions were not able to understand this business earlier on, but with our help, they now have recurring revenue streams, and this is what they are now buying,” Sherwal said.
The platform looks to expand its business to other geographies, including Singapore and the US, in the next two years, he added. PTI DP HRS hrs
