Efficient Capital Labs, a New York-based fintech company that provides non-dilutive capital to B2B SaaS companies operating in the South Asia-U.S., raised $7M in Pre-Series A funding.
The round was led by QED Investors with participation from existing investors including 645 Ventures, The Fund, Lorimer Ventures, Riverside Ventures and Generalist.
The company intends to use the funds to invest in automation, expand its team across engineering, product, underwriting, sales and operations and achieve unit economics.
Co-founded in 2022 by Kaustav Das and Manish Arora, Efficient Capital Labs is fintech that provides non-dilutive capital to B2B SaaS companies operating in the South Asia-US corridor – i.e., companies that generate a majority of their revenues from the US or North American market while maintaining a significant part of their technology, product development, and operations teams in South Asia. Efficient Capital Labs provides revenue-based financing to its clients and deploys capital out of its own balance sheet.
Since starting its lending operations in June 2022, ECL has provided funding to more than 50 SaaS businesses, and the business is poised to grow to a total of more than 150 customers before the end of 2023.
FinSMEs
14/07/2023