Efficient Capital Labs Raises $7 Million Pre-Series A Funding The company plans to use the raised funds in greater automation, expand its team across engineering, product, underwriting, sales and operations and achieve better unit economics
By Teena Jose
Opinions expressed by BIZ Experiences contributors are their own.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Efficient Capital Labs (ECL), a fintech company, has raised $7 million in pre-Series A funding round led by QED Investors, along with participation from existing investors including 645 Ventures, The Fund, Lorimer Ventures, Riverside Ventures and Generalist coming in as a new investor alongside QED. This was ECL's second raise in less than a year.
This funding brings the total amount raised by the startup to $110.5 million including a $100 million debt facility and $3.5 million equity round in April last year. According to the company, it plans to use the raised funds in greater automation, expand its team across engineering, product, underwriting, sales and operations and achieve better unit economics.
"Our vision is to enable border-agnostic access to capital for businesses in emerging markets, such as India, that can benefit from lower capital costs that are available in markets such as the U.S. Our value proposition is unmatched, we offer the most capital- and time-efficient solution for SaaS businesses looking to raise growth capital. The latest fundraise allows us to continue innovating for the customers who we serve," said Kaustav Das, co-founder.
Founded in 2022 by Kaustav Das and Manish Arora, Efficient Capital Labs is a New York headquartered 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.
"Indian SaaS companies are known for innovative and specialist software solutions, and their growth in selling to the U.S. represents a new era of BIZ Experiencesship and global collaboration. By providing non-dilutive capital to these companies, ECL empowers the founders to build for the long term and drive innovation and growth. Kaustav and Manish are a formidable team. I am thrilled to partner with them and I look forward to what the future holds," said Sandeep Patil, partner and head of Asia, QED Investors.
