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Eklavya Gupta Co-founder, CEO of Recur Club & Abhinav Sherwal, Founder and CO-CEO of Recur Club
Revenue exchange platform Recur Club has launched the 'Regreen Fund,' a sustainable finance program, with the aim to invest in startups that actively contribute to a greener and more sustainable future.
With an initial commitment of $10 million, Recur Club said it will provide funding support to environmentally conscious startups in India, fostering positive change through their innovative products and services.
According to an official statement released by the company, the newly established Regreen Fund will extend its backing to startups that strive to make a significant impact in the environmental sector. Selected companies will receive access to growth capital without any equity dilution, facilitating the expansion of their operations, acceleration of product development, and broadening of their market reach, it said.
"We are excited to introduce the Regreen Fund as a reflection of our strong commitment to sustainable development and environmental preservation. We believe in the power of startups and entrepreneurs to tackle the urgent environmental challenges we face globally. Through the Regreen Fund, we aim to provide essential financial support and valuable resources to drive meaningful change in India's sustainability landscape," said Eklavya Gupta, co-founder and CEO of Recur Club.
The launch of the Regreen Fund aligns with the Indian government's initiatives to promote green financing. One such measure involves permitting 'green deposits' for both banks and non-banking financial companies, encouraging sustainable investment practices. Additionally, the government has enabled 100% annual Foreign Direct Investment (FDI) for renewable energy projects, further emphasizing its commitment to environmental sustainability.
Incepted in 2021 by Abhinav Sherwal and Eklavya Gupta, Recur Club said it employs an integrated approach to assess its customers' key metrics by integrating with their accounting, billing, and subscription management systems.
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