by Bengaluru, India – July 13, 2023 – ECL, a fintech company that provides non-dilutive capital to B2B SaaS companies, has raised $7 million in pre-Series A funding. The round was led by QED Investors, with participation from existing investors Lightspeed Venture Partners, Kalaari Capital, and MassMutual Ventures.
ECL was founded in 2022 by Kaustav Das and Manish Arora. The company’s platform provides B2B SaaS companies with access to upfront capital that is 100% non-dilutive. This capital can be used to grow the company’s sales and marketing efforts, hire new staff, or expand into new markets.
The funds raised in the pre-Series A funding will be used to expand ECL’s platform, hire more staff, and expand its reach to new markets. The company plans to launch its platform in the United States in the near future.
“We are excited to partner with QED Investors and other investors in this round,” said Kaustav Das, CEO of ECL. “Their support will help us to accelerate our growth and make ECL the leading provider of non-dilutive capital for B2B SaaS companies.”
“ECL is a well-positioned company with a strong team and a clear vision,” said Anand Chandrasekaran, managing director at QED Investors. “We are confident that the company will be a major player in the non-dilutive capital space in the years to come.”
ECL’s platform is a valuable resource for B2B SaaS companies that are looking to grow their businesses without diluting their equity. The platform is easy to use and provides a wide range of features, including capital eligibility assessment, capital allocation, and reporting. ECL is a one-stop shop for all your non-dilutive capital needs.
Here are some additional details about the funding:
- The funding round was led by QED Investors.
- The round also saw participation from existing investors Lightspeed Venture Partners, Kalaari Capital, and MassMutual Ventures.
- The funding was oversubscribed.
What do you think about the funding?
I think the funding is a great sign for ECL. It shows that investors have a lot of confidence in the company and its future prospects. I am excited to see what ECL accomplishes in the years to come.
