Efficient Capital Labs (ECL), a NYC-based fintech company providing revenue-based financing, has raised $11 million in Series A funding. The round was led by QED Investors and 645 Ventures, with additional participation from Riverside, Generalist, FJ Labs, and Eudemian Ventures.
Strategic Expansion Plans
Founded in 2022, Efficient Capital Labs offers non-dilutive capital to B2B SaaS companies operating within the South Asia-US corridor. These companies typically generate the majority of their revenue from the US or North American markets while maintaining significant technology and operations teams in South Asia. ECL provides revenue-based financing and deploys capital directly from its own balance sheet.
With the new funds, ECL plans to expand into Singapore and other Southeast Asia markets, building on its success in the U.S. and India. Over the past year, the company has originated over $70 million in financing, tripled its client base, and now serves over 100 companies.
ECL previously raised $3.5 million in a seed round led by 645 Ventures in April 2022, followed by a $15 million debt facility in November 2022, which was updated to a $100 million SPV in June 2023. The company also completed a $7 million pre-Series A round in July 2023.
Currently, ECL employs 25 people between the U.S. and India and plans to expand to 30-35 employees by the end of the year. The company is looking to hire key positions, including a Chief Revenue Officer (CRO), Chief Marketing Officer (CMO), head of business development and partnerships, and additional engineers.
