GetVantage, an established revenue-based financing Fintech, reveals that it is introducing Bounce Back Capital, which is described as a “first-of-its-kind” initiative to help brands of India “rebound this festive season.”
As mentioned in a release shared with CI, GetVantage has allocated an initial $5 million (from funding partners and NBFCs) to be “deployed via its founder’s platform.”
Indian businesses have been struggling to make it through the COVID-19 pandemic. Bounce Back Capital is the “result of feedback from customers and ecosystem partners who have expressed a dire need for access to larger and faster growth capital as they look to meet increased consumer demand heading into the festive season, the first in two years,” the announcement explained.
According to the Festive Season Pulse 2021 survey by The Trade Desk and YouGov, almost three in five or around 60% Indian consumers are “excited about the upcoming festival season sales with 91% planning to make a purchase during this time.”
With Bounce Back Capital by GetVantage, founders are able to take advantage of all the same benefits and growth solutions that come with its founder’s platform, along with:
- More funding: Business-owners can now get up to US$ 500k (increased from US$ 250k limit).
- Quicker access: Founders can now get funded in as fast as 7 days (reduced from 3-4 weeks).
- Broader coverage: Performance-based capital to double-down on marketing, inventory, and logistics.
- For all businesses: Now serving traditional SMEs too and not just digital-first brands.
- Same guarantee: No equity. No warrants. No personal guarantees. No interest. No hidden fees. No board seats. One flat fee (now starting at 5%).
In addition to “fast, fair, and flexible” capital, business-owners also get access to “real-time” insights, various business optimization tools “through a powerful partner ecosystem (AWS, Razorpay, Freshworks, Adyogi, First Economy, Zoho, etc), and the FoundersForFounders mentor and support platform.”
Bhavik Vasa, Founder & CEO of GetVantage, stated:
“All businesses have been adversely affected because of the pandemic. Bounce Back Capital was designed to help business-owners and brands quickly access the working capital they need to not just get back to business but bounce-back stronger than ever!”
Arjun Vaidya, Ventures Lead – India, Verlinvest, CEO of Dr. Vaidya’s (acquired) and FoundersForFounders member, remarked:
“Initiative’s like Bounce Back Capital are timely and relevant as businesses look to recover quickly from the continued uncertainty of the pandemic. The demand for more quick, non-dilutive capital options is at an all time high and will continue to trend upward as the digital-economy grows exponentially.”
Increased internet penetration, “widespread” use of virtual payments, and the Coronavirus outbreak drove the adoption of online purchasing and have “resulted in 88% order volume growth on D2C websites in 2020.”
According to research by Avendus Capital, the Indian D2C market is on track to grow at 25% CAGR from $44.6 billion in FY21 to $100 billion by FY25.
Even though there’s considerable expected growth, VC funds remain largely inaccessible to many brands because of different reasons.
GetVantage is set to “harness this momentum as the growth engine for various high-potential, home-grown D2C brands including Rage Coffee, Power Gummies, Charcoal Eats, Flatheads, Tijori, Super Bottoms, among others.”
During the past 9 months, GetVantage has “funded 100+ digital brands and SMEs across 20 sectors (including eCommerce, D2C, gaming, SaaS, automotive, F&B, health & wellness, home, etc) and is committed to helping made-in-India brands bounce-back from COVID19.”
The firm has managed to “amass a pipeline of over 1,500 businesses and is on track to fund 250+ brands in the next 9 months.”
Businesses are able to submit applications through this link in order to receive funding within 7 days.