Recur Club, a well-known debt marketplace for startups and SMEs, has provided Rs 10 crore in debt capital to the edtech platform Kreedo Early Childhood Solutions. Kreedo had previously secured $4 million in Series A funding to improve learning environments from the UBS Optimus Foundation and Heritas Capital. According to a news statement from Kreedo, the money will be used to support its ambitions for development and expansion, improve its product line, and scale its business throughout India.
Kreedo, a non-franchised solution for Indian preschools and schools, was co-founded in 2012 by Mridula Shridhar and Manikandan Krishnan. Through play-based activities, its curriculum aims to support children's development of literacy, numeracy, and other abilities. The foundation of the platform's curriculum is the notion that a "Practical to Theory" or "Concrete to Abstract" method is the most effective way for kids to learn. To encourage youngsters to explore and develop their talents, the curriculum incorporates both indoor and outdoor games and toys.
The Bengaluru-based company claims that its main goal is to raise educational standards in more than 350,000 reasonably priced private schools in India that serve low-income families and charge less than Rs 30,000 per year. The business asserts that for the last three years in a row, it has shown an outstanding revenue growth rate of more than 35% annually.
"Working with Manikandan and seeing Kreedo's amazing development over the last few years has been a delight. They have successfully hyperscaled while maintaining a sizable amount of equity thanks to their astute capital management strategy," stated Eklavya Gupta, co-founder and CEO of Recur Club.
Kreedo may face direct or indirect competition from businesses in this sector, including Hello Kids, Blue Blocks, Sudiksha Knowledge Solutions, Kinderly, and Seed Schools.
Recur Club is a capital platform that allows businesses to work with a dedicated capital specialist to raise loan financing that is specific to their needs. In this fiscal year, the platform plans to provide Rs 2,000 crore in debt financing for startups and SMEs via Recur Scale and Rs 1000 crore to MSMEs via Recur Swift. It has invested in firms like Xoxodays, Keka HR, Moveinsync, Rage Coffee, and Ustraa, among others. It faces competition from GetVantage, Velocity, and Klub, among other loan finance services.
