Recur Club and Infoedge Ventures Bring Key Industry Stakeholders on Independence Day Eve to Deliberate with Founders on "Building for Bharat"

1. Jitendra Vijay, CEO, Ministry of Electronics and Information Technology, Startup Hub

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2. Kitty Agarwal, Partner, Infoedge Ventures

3. Apurva Chamaria, Head of Partnerships, Startups Google

4. Gaurav Goel, Group President & National Head - Startup/Fintech & New Economy Business, Yes Bank

5. Sudhanshu Bhasin, Chief Business Officer and Head of Investments at Recur Club

Founding team of Recur Club along with the panelists

During the discussion, Jitendra Vijay, CEO, Ministry of Electronics and Information Technology, Startup Hub highlighted, "It's a decade of technology for India. By 2030, India will be looking at 20-30% of the overall SaaS market pie, which has a huge potential. Given the key technologies like AI and ML and digitalization being the core of the business, youth and ambitious entrepreneurs can accelerate the overall industry growth."

At the event, Apurva Chamaria, Head of Partnerships, Startups Google stated, "India enjoys great credibility and prestige when it comes to technology. 10% of the global developer population is based out of India, and it is growing steadily at 40% every year. Owing to our strong developer community, we possess proven expertise in developing SaaS products, and I foresee a lot of enterprise SaaS companies coming up in the future."

SaaS businesses have been gaining traction with robust growth at 33%+ and with $6B+ VC investments in 2021 (20% of the overall VC investments at $35B).

BVP's SaaS index which tracks 50+ key cloud companies was trading at over 20x ARR in 2020. But since last year the index witnessed a 50% decline in LTM. Startups are now looking at alternative financing solutions as well after seeing a 20-30% decline in funding through traditional channels.

Kitty Agarwal, Partner, Infoedge Ventures said, "Owing to the recurring nature of cash flows, high gross margins, and capital efficiency, SaaS-based business model becomes way more defensive in the down markets rather than upmarket. These key advantages of the SaaS business model give founders more flexibility to scale up the business and grow."

Gaurav Goel, Group President & National Head - Startup/Fintech & New Economy Business, Yes Bank said, "Banking industry is gearing to provide a better ecosystem to the Indian startup ecosystem and that Yes Bank has recently also started investing equity in selective startups."

Aiming at discussing the current challenges of the global macro environment, the panel discussed how being contribution margin positive and leveraging alternative financing solutions like those provided by Recur Club can help SaaS companies to navigate the current macroeconomic scenario.

"With the event, we sought to leverage the Recur Club community to empower the startups of today to become the industries of tomorrow by providing them with strategies for capital efficient growth and fundraising in the new normal," said Sudhanshu Bhasin, Chief Business Officer and Head of Investments, Recur Club.

About Recur Club

Recur Club is a revolutionary trading platform facilitating financing for Companies with Recurring Revenue streams. Recur Club has unlocked an all-new asset class to simplify the way financing works for companies. Companies are able to convert their Monthly Recurring Revenue to upfront growth capital on click of a button.