Vinculum completes first tranche of Series C funding
The funding round, comprising a mix of equity and debt, was spearheaded by logistics services provider, Delhivery.
Vinculum Group, the omnichannel retail SaaS solutions firm, had previously announced in May 2023, the signing of their Series C funding round subject to closing conditions. The company has subsequently confirmed the closing of the first tranche of its Series C funding.
The funding round, comprising a mix of equity and debt, was spearheaded by logistics services provider, Delhivery as the anchor corporate investor. Early investor Accel Partners also participated in the round, demonstrating their continued support for the company's growth. Recur Club provided debt financing as part of the funding.
“The founders of Vinculum, have increased their stake in the company, solidifying their commitment to Vinculum Group's long-term success and future prospects. The Series C funding serves as a solid foundation for Vinculum's ambitious expansion strategy and fortifies its growth objectives on a global scale,” the release reads.
Eklavya Gupta, co-founder, and CEO at Recur Club, said, "We draw inspiration from success stories like Vinculum. At Recur Club, we take pride in not only offering upfront growth capital but also in providing a suite of growth products that enable companies like Vinculum to scale seamlessly. Our commitment lies in supporting and empowering businesses to achieve their full potential and realize their growth ambitions."
"We are thrilled with the successful completion of the first tranche of our Series C round," stated Venkat Nott, CEO of Vinculum Group. "This funding round reaffirms the tremendous potential and allure of SaaS software and the omnichannel retailing sector. With these funds, we aim to make several strategic growth hires, further solidifying our market leadership position. Additionally, we will accelerate our product development efforts, allowing us to deliver unmatched value to our clients worldwide."
In its pursuit of attracting and recognizing top talent, Vinculum has taken a significant step by substantially expanding its ESOP pool. This move demonstrates the company's commitment to fostering a dynamic and talented workforce. By bolstering the ESOP Pool, Vinculum aims to attract exceptional growth-oriented team members who embody the right values and ethos. Additionally, the company envisions creating microcosms of its organization in strategic locations, bringing its services closer to customers and ensuring a seamless and personalized experience for clients worldwide.