GetVantage Raises $36 Million
The fund will be used for enhancing technology infrastructure, scale the product suite, expand the company portfolio and explore new market opportunities across Southeast Asia
GetVantage, revenue-based financing fintech and growth platform for SMEs, has raised $36 million in a round led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, returning investors Chiratae Ventures and Dream Incubator Japan. The round also witnessed participation from Sony Innovation Fund, InCred Capital and Haldiram's Family Office among others. The new investment will power the growth of GetVantage's performance-based financing solution and embedded finance product, enhance technology infrastructure, scale the product suite to meet the evolving needs of fast-growing digital businesses, expand their growing portfolio of B2B SaaS and subscription-driven businesses and explore new market opportunities across Southeast Asia.
"From day one, GetVantage's mission has been to reshape the landscape of small business finance so that entrepreneurs have more access, choice and control. We are thrilled to welcome all the investors to our growing team to further our mission to help India's new economy and brands unlock revenue potential on their terms," said Bhavik Vasa, founder and CEO, GetVantage.
GetVantage offers entrepreneurs access to equity-free capital between $10,000 to $500,000. To date, GetVantage's revenue-based financing marketplace has funded over $270 million in GMV for more than 350 brands across 18 categories ranging from B2B SaaS, subscription businesses, D2C, e-commerce, edtech, healthtech, cloud kitchens and nutrition among others. In 2021, GetVantage saw a 300 per cent year-on-year and helped brands achieve 1.8 times revenue growth post funding on average, claimed by the company in a statement.
"By using data to unlock capital access for SMEs, GetVantage is pioneering a new approach to empower thousands of e-commerce entrepreneurs to grow their business on their terms. We are thrilled to support GetVantage management team to help accelerate their next phase of growth and unlock capital and revenues for thousands of fast-growing businesses that will power the future of India's digital economy," said Aparajit Bhandarkar, partner, Varanium Nexgen Fund.
Founded in 2020 by Bhavik Vasa and Amit Srivastava, GetVantage is a revenue-based financing platform providing fast, fair, flexible, equity-free capital to digital SMEs. The company is poised to supercharge growth for thousands of new age brands and digital businesses that taking off in India.