Recur Club, a financing platform that aids in converting recurring revenue streams of businesses into immediate and upfront finance, led a funding round that saw the technology platform DASH raise $1 million.
DASH is a technology platform that makes the semi-urban market more accessible for brands in the FMCG and food commodities segment via its network of digitally connected Demand Aggregators and Fulfilment Partners.
“We have a unique operating model where we leverage technology and the entrepreneurial spirit of locals to overcome deep-rooted challenges of sales and supply for brands. We are growing at a growth rate of 32 per cent CMGR, and looking to touch 100 crore in ARR by the end of September 2022. Our model ensures fast rotation of inventory and our working capital need is just one week. But this needs to be addressed with scale, and we are glad to have partnered with Recur Club for the same,” said Ajay Nain, founder, DASH.
More than 200 brands are now using it to further their market penetration in tier III. According to a statement from the company, DASH has onboarded over 2000 partners across five regions and delivers to their door within 24 hours of an order.
“As founders ourselves, we deeply understand the amount of time, effort, and paperwork it takes to raise capital through equity or debt. At Recur Club, we obsess about helping founders such as Ajay Nain by opening up an altogether new way to finance their growth without dilution. Our revolutionary AI/ML-backed underwriting engine connects with the company’s data-on-the go and unlocks their trading limits within 48 hours,” said Amar A Ummat, founding partner, Recur Club.
DASH aggregates multiple sales channels such as small wholesalers, supermarkets, Kirana stores and eateries to leverage their collective demand. Besides its core commerce business, it also provides financing support to small wholesalers and retailers in collaboration with NBFCs and BNPL partners.