How WeVOIS Grew 2.7x in 2 Years?

WeVOIS is a solid waste management company that leverages technology to revolutionise the industry using its automated, IoT-based door-to-door waste collection solution. This system streamlines the collection process and enhances overall efficiency through features like fleet monitoring and material recovery facilities. Its primary customers include City Municipal Corporations, medium-scale enterprises, and notable names like the Municipal Corporations of Sikar and Kishangarh and Shri Balaji Care Takers.

Despite early profitability as shared by Wevois’ Founder, WeVOIS encountered limitations due to restricted access to capital. Traditional lenders hesitated to provide loans, hindering their ability to scale operations in several ways, such as limiting investments in advanced waste management technologies and impacting operational efficiency. Additionally, limitations in acquiring new equipment and expanding their fleet and workforce restricted service coverage and their ability to enter new markets. Furthermore, the capital constraints resulted in an ageing fleet, leading to higher operational costs for fuel and maintenance.

WeVOIS partnered with Recur Club to address its funding limitations. After a swift due diligence process completed within 48 hours, WeVOIS received a flexible trading limit, enabling them to access capital repeatedly. It raised capital for the first time in August 2021, and since then, WeVOIS has successfully raised debt capital 6 times from Recur Club worth a total of ₹7.3 Crores.

WeVOIS’ revenue surged by 2.7x in YTD FY24, and its EBITDA improved by 5 percentage points. This financial boost empowered them to strengthen their waste management solutions and expand operations into 6 new cities, increasing their market presence. Additionally, the access to capital allowed them to strategically delay their fundraising, enabling them to secure a higher valuation later.