Recur Club: the AI-native debt marketplace for Indian startups and SMEs

Ask most founders about raising debt and you will hear the same story: months of paperwork, scattered applications, opaque pricing and lenders who treat startups like an afterthought. Recur Club, founded in 2021 by IIM Calcutta alumni Abhinav Sherwal and Eklavya Gupta (both Co-CEOs), set out to rebuild that experience — as India's first and largest AI-native debt marketplace for startups and SMEs.

The core idea: instead of begging one bank, founders list their financing need and let institutional lenders bid for it. NBFCs, banks and debt funds compete on Recur's platform, so companies with recurring or predictable revenue get the best available price. At the centre sits AICA, the company's proprietary AI Credit Analyst, which evaluates businesses across 200+ parameters in real time — saving over 80% of the time usually spent on data collection, data rooms, due diligence and CAM creation. AICA is trusted by 100+ banks, NBFCs and credit funds.

The numbers are striking. Recur Club has facilitated over ₹3,000 crore in debt sanctions for 2,000+ companies across a network of 100+ lending partners and 30+ customised debt products — spanning cashflow financing, working capital, invoice discounting, venture debt, acquisition financing, asset financing and lease financing. Unsecured loans can close in under 48 hours; structured, collateral-backed growth capital in under three weeks — a process that traditionally takes over three months.

In September 2025, Recur Club raised $50 million: $8 million in equity led by InfoEdge Ventures alongside LC Nueva, Physis Capital, String Ventures and iA finvolve, plus $42 million in debt allocation from financial institutions including Incred, Ugro and Lighthouse Canton. The funds are going toward new debt products, expansion into Tier-2 and Tier-3 cities and deeper AI infrastructure. The company says it is on track to reach an annual debt run-rate of ₹10,000 crore by FY27.

Recur's product range goes well beyond simple revenue-based advances. Recur Scale, aimed at Series A-and-beyond startups and SMEs with revenues of ₹40 crore and above, offers debt of up to ₹100 crore per deal targeting a ₹1,000 crore total allocation — structured term loans, venture debt, vendor and PO financing, working capital, overdrafts, bank guarantees and loans against property. Business debt on the platform starts from 7%, and companies with an annual turnover above ₹5 crore can book a free advisory session.

Companies backed through the platform include MoveInSync, Zypp, Captain Fresh, Palmonas, Sagar Asia and Kimbal, and Recur Scale counts WellVersed, Red Health, Ikon and Battery Smart among its users. The company also produces Bharat Ke Super Founders, a founder-story series streaming on Amazon MX Player.