WeVOIS raises $400K as a non-dilutive fund through the Recur Club
- ByStartupStory | August 18, 2022
WeVOIS Labs, a provider of IoT-based sustainable solutions, has received $400K in non-dilutive growth capital by exchanging recurring revenue streams on Recur Club. The Jaipur-based company has activities that are expanding quickly.
By merely forwarding its cash flows, the company got a flexible trading limit and drew down capital three times. Due to their ability to licence their software to companies, they were able to pivot their business model and expand operations into six new cities.
WeVOIS Labs’ CEO, Abhishek Gupta, said, “When the market’s low-quantity unsecured debt became unsustainable for us, we had to stop doing that. Recur Club was there for us whenever we required funding, offering a reasonable bid on their site. We were able to grow into other areas when we were ready thanks to their flexible financing, which allowed us to take out money whenever we needed to. In addition, this has enabled us to obtain equity capital at a far greater valuation than the bids we got the previous year.”
Recur Club’s founding partner, Amar A. Ummat, said, “We have created a straightforward, DIY financing platform for recurring income called Recur Club as our love letter to founders. We are driven by a unique desire to support entrepreneurs like Abhishek Gupta by providing a convenient and flexible means of financing their expansion. Within 48 hours, our ground-breaking underwriting engine with AI/ML support links to the company’s data on-the-go and unlocks their trading limits. The quickest way to pay in at the bank is through Recur Club.”
About WeVOIS
Abhishek Gupta and Abhinav Shekhar Vashistha established WeVOIS in 2018. It offers excellent services, environmentally responsible waste management options, and on-time trash collection. Their fully automated IoT-based door-to-door waste collection solution is made to increase citywide waste collection efficiency while also promoting cleaner, greener neighbourhoods.
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