WeVOIS Labs, an IoT-based sustainable solution company, has raised $400,000 of non-dilutive growth capital by trading their recurring revenue streams on Recur Club, a funding platform facilitating non-dilutive capital financing for startups.
As per a statement, WeVOIS Labs was able to grow their revenues by 200 percent in the last 9 months by using growth capital raised through Recur Club. The firm received a flexible trading limit and drew down capital 3 times by simply advancing their cash flows. This allowed them to expand operations into 6 new cities and pivot their business model by licensing their software to businesses, it added. ARR growth increased for the company by 200 percent by leveraging Recur Club’s capital in the last 9 months, the firm stated.
“Whenever we needed capital, Recur Club was always there with a competitive bid on their platform. Their flexible financing allowed us to draw down capital at our will and enabled us to expand into new territories when we were ready for it. This has also helped us in raising equity capital at a much higher valuation as compared to the offers we received last year,” said Abhishek Gupta, CEO, WeVOIS Labs.
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