Recur Club Launches $10 Million Finance Program For Green Startups Recur Club aims to support and empower environmentally conscious startups in India, driving positive change through their innovative products and services
By Teena Jose
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Recur Club, has launched 'Regreen Fund,' a sustainable finance program dedicated to investing in startups actively working towards a greener and more sustainable future. With an initial commitment of $10 million, Recur Club aims to support and empower environmentally conscious startups in India, driving positive change through their innovative products and services.
"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.
In an official statement, the company said that Regreen Fund will support startups looking to make a difference in the environmental domain. It will provide selected companies with access to growth capital without equity dilution, enabling them to scale their operations, accelerate product development, and expand their market reach.
The Indian government has also taken steps to promote green financing, including allowing 'green deposits' for banks and non-banking financial companies and enabling 100% annual Foreign Direct Investment (FDI) for renewable energy projects.
"It's encouraging to see the advancements in the green financing sector and we are truly excited about its potential impact on India's sustainable growth. The availability of quick access to working capital is vital for the smooth functioning of any industry. Regreen Fund by Recur Club is a positive step towards empowering businesses in this field with non-dilutive capital that aligns with their revenue growth," commented Pulkit Khurana, co-founder of Battery Smart.
