DASH Bags $1 M From Recur Club
Over 200 brands are now receiving assistance from DASH to enhance their market penetration in tier-III. Within 24 hours of receiving an order, the business claims to have delivered to the doorstep of over 2,000 partners across 5 locations.
Through Recur Club, DASH, a brand's go-to-market channel in Tier-III markets, has raised a line of $1 million in non-dilutive financing.
Recur Club, a finance platform assists companies in converting their recurring revenue streams into immediate and upfront money. It has a $30 million seed round funded by InfoEdge Ventures and Village Global in April of this year.
DASH, led by Ajay Nain, uses a network of digitally connected demand aggregators and fulfilment partners to make the tier-III market more accessible for brands in the FMCG and food commodities category. To capitalise on their combined demand, it combines several sales channels, including small wholesalers, supermarkets, kirana stores, and restaurants.
Ajay Nain, Founder of DASH, said, "We have a unique operating model where we leverage technology and the entrepreneurial spirit of locals to overcome deep-rooted challenges of Sales & Supply for brands. We are growing at a growth rate of 32% CMGR and looking to touch 100 crores 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."
Together with NBFCs and BNPL partners, it also offers financing assistance to small wholesalers and retailers in addition to its primary commerce activity.
raises funding