Efficient Capital Labs Wins “Best Business Lending Product”

NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) — Efficient Capital Labs (ECL), a fintech company that provides non-dilutive capital to cross-border SaaS companies, today announced that it has garnered the “Best Business Lending Product” award in the 8^th annual Fintech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market.

“ECL is making capital borderless for global SaaS businesses. 75% of SaaS revenues for international startups flow in from markets like the US, but developing market founders are hamstrung by immature local venture capital and prohibitive borrowing costs,” said Steve Johansson, Managing Director, FinTech Breakthrough. “ECL stands out as a force for equitable change and deserves our ‘Best Business Lending Product’ award. By supporting the innovative spirit of emerging markets, local talent can use their passion and drive to create new and globally relevant products.”

Efficient Capital Labs joins a list of 2024 Fintech Breakthrough award winners that includes Oportun, Chase, Ripple, Mastercard, Bill.com and Chime – recognized by the judging panel from a competitive group of over 4,000 companies.

ECL helps B2B SaaS companies get affordable growth capital fast. The funds are offered through their debt facility. By extending revenue-based lending, ECL ensures fair and accessible terms regardless of geography. The company takes a 10-12% fixed fee with no dilution, so startups preserve cash and equity as compared to venture debt and emerging market banks. 

Since its 2022 founding, ECL has made around $40 million in financings to SaaS startups. The company launched with a focus on businesses in the India-United States corridor, and has expanded to a customer footprint that reaches over 15 countries worldwide.

The Company’s advanced tech stack includes a cloud lending platform capable of processing financial data from diverse international sources. Leveraging machine learning enables ECL to read global financial statements, and automate their risk underwriting in order to lend to companies three days from application. These tech and underwriting innovations underscore ECLs’ focus on financing complex cross-border startups.

“We are grateful for FinTech Breakthroughs’ recognition of our ongoing mission to address the disproportionate access to capital experienced by founders in developing markets. We are unique in our ability to evaluate a company based on their revenue and spend across all geographies they operate in,” said Kaustav Das, Founder and CEO of ECL. “Our goal is to democratize access to capital. By eradicating financial borders, we enable every founder to partake in opportunities once reserved for a few. Our platform fosters a more equitable entrepreneurial ecosystem so innovation thrives unrestricted by geography.” 

ECL provides up to $1.5 million of funding and offers up to 65% of a company’s annual recurring revenue, as upfront capital. Their vision is to create a future of borderless capital, where companies can grow on their own terms and timeline.

About ECL

Founded in 2022, Efficient Capital Labs is a New York headquartered fintech that provides non-dilutive capital to global B2B SaaS companies, with a focus on cross-border startups. Efficient Capital Labs provides revenue-based financing to its clients via an advanced cloud-lending solution and deploys capital out of its own balance sheet. To learn more about Efficient Capital Labs please visit: https://www.ecaplabs.com.

About FinTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.