B2B SaaS focused revenue-based financing (ECL) has secured $11 million in Series A funding, co-led by QED Investors and 645 Ventures.
The round included participation from existing investors Riverside and Generalist, as well as new investors FJ Labs and Eudemian Ventures.
This investment will be utilised towards ECL’s expansion into Singapore and Southeast Asia, building on its success in the US and India where it has provided over $70 million in financing and tripled its customer base to over 100 companies within a year, the company said in a press release.
The company offers financing in multiple currencies, such as USD and INR, and plans to extend this to Singapore dollars, reducing reliance on foreign exchange and navigating strict international regulations.
Founded in 2022 by Kaustav Das and Manish Arora, ECL provides non-dilutive capital to B2B SaaS companies that generate significant revenue from the US market while maintaining substantial operations in South Asia.
ECL aims to stands out by evaluating a company’s total global revenue across different geographies, rather than just focusing on a single market, it said. This approach allows ECL to offer more accurate and holistic financing solutions to companies that might otherwise be overlooked by traditional US-based financing providers.
