Keka, a SME HR tech company, has raised $1.6 million non-dilutive revenue funding. The feat was achieved through trading subscriptions made on Recur Club, which enables companies to access capital growth.

Revenue funding allows businesses to scale without having to depend on venture capitalists and giving away part of company ownership. Through this, Keka leads the Indian companies in paving the pathway to use non-dilutive funding for scaling its business, the company said in a statement.

The funding will be used to scale marketing, sales and other growth possibilities.

“Non-dilutive funding will become the norm for bootstrapped SaaS companies in the world. SaaS founders should focus on building awesome experiences and not run after investment rounds, which often cuts their ownership margin and control of the company. The raised funding will be invested in hiring and expanding the company further across geographies. We intend to hire 200-300 more employees in the next financial year and this funding will be utilized to make the hiring season successful,” said Vijay Yalamanchili, CEO of Keka.

Keka was founded in 2015 with the mission of solving complex HR challenges. Keka has openings in almost every department as it aims to grow the employee count to support the company in its next leg of growth. With its head office in Hyderabad, the company aims to make its presence felt across the globe and cater to the SME industry in the US, southeast Asia and Middle Eastern nations, said the statement.

Recur Club is Asia’s first and only trading platform for companies with recurring revenue streams that gives access to growth capital at the click of a button. It connects companies directly with institutional investors to trade their subscriptions for upfront cash. Recur Club partners with companies by unlocking fast, flexible, transparent, and non-dilutive capital at every stage of their journey and provides an ecosystem to amplify their growth.