# Recko Software Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/recko-software-private

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.recko.io
- Total disclosed funding: $7M
- Latest round: Series A (Apr 2, 2020)
- Investors on record: 2

## About

Recko Software Private Limited specializes in finance operations solutions for internet companies, providing tools for financial data management, reconciliation, and reporting to streamline complex financial processes.Founded in 2017 in Bangalore, India, Recko Software Private Limited develops a platform designed for managing financial operations effectively. The company has completed a total of 4 funding deals, with its most recent round being a Series A on October 20, 2021, raising USD 6.00 mn led by Vertex Ventures Southeast Asia & India alongside Prime Venture Partners. The company was founded by Prashant Borde, who has a history in developing tech solutions.Recko.io offers a comprehensive finance operations platform designed for fast-growing internet companies. Its core product suite includes tools for managing financial data, enabling workflows such as reconciliation, commission calculation, payout creation, and reporting. By automating complex financial operations, Recko allows businesses to efficiently track, manage, and account for financial transactions, revenue receivables, and payables with high accuracy. The platform is user-friendly, facilitating rapid onboarding and minimizing the need for extensive engineering resources. Recko serves a diverse client base spanning various geographical markets, including North America, Europe, and Asia, focusing on internet-based companies that require robust financial management solutions.Recko.io generated a revenue of USD 24,241,585.50 in 2023, with an EBITDA of USD -5,994,474.20. The company primarily employs a subscription-based revenue model, where clients pay monthly fees for access to its financial operations platform, with tiered pricing based on transaction volume and service level. This approach helps businesses streamline their financial processes and reduce manual errors, while also supporting various integrations with other systems.Following its acquisition by Stripe, Inc., in October 2021, Recko plans to expand its product offerings and enhance its platform capabilities. The company is also strategically targeting expansion into markets across North America and Europe, anticipating growth by leveraging the resources and expertise offered through the partnership with Stripe. The recent funding will be utilized to develop new products that complement Stripe's existing offerings, which include Stripe Revenue Recognition and Stripe Billing, among others.

## Funding rounds

- Series A, Apr 2, 2020, $6M — Vertex Ventures Southeast Asia & India, Prime Venture Partners
- Seed, Aug 27, 2019 — Prime Venture Partners
- Seed, Jun 26, 2019, $1M — Prime Venture Partners

## Investors

- Prime Venture Partners (https://capitalatlas.ai/funds/prime-venture-partners) — Seed, Series A
- Vertex Ventures Southeast Asia & India (https://capitalatlas.ai/funds/vertex-ventures-southeast-asia-india) — Series A