Mithi Software Secures $500,000 in Funding for Saas Startup

• ByStartupStory     |    May 18, 2023

Mithi Software, a SaaS company based in Pune, secures undisclosed funding from revenue-based investor Recur Club, amounting to $50,000 (approximately Rs 4.12 lakh). The investment will be utilized by Mithi Software to expand its cash-flow marketing efforts and enhance its product offerings.

With the newly acquired funds, the Pune-based startup aims to enhance its product offerings and scale up its cash flow marketing initiatives. Mithi, founded by Tarun Malavia, specializes in providing SaaS tools for safeguarding, ensuring visibility, and enhancing the agility of crucial business data. While the company has operated as a bootstrapped organization thus far, it intends to seek funding from venture capital firms in the near future.

“Financial costs of raising capital through Recur Club are offset -were set off by the savings that we made through paying our expenses upfront with Recur Club Financing,” said Malavia, founder and chief executive officer, Mithi Software.

In January, HR-focused tech startup InCruiter received Rs 1 crore revenue-based funding in a round led by Recur Club. Additionally, Recur Club established a capital pool worth $15 million to provide interim financing to startups affected by the demise of Silicon Valley Bank in March.

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