India’s Revenue-based Financing Fintech GetVantage Secures $36M in Funding

GetVantage, India’s revenue-based financing Fintech & growth platform for SMEs, has raised $36 million in growth funding led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, and returning investors Chiratae Ventures and Dream Incubator Japan.

Other new investors who participated in this investment round “include Sony Innovation Fund, InCred Capital, and Haldiram’s Family Office amongst others.”

Combined with the $5 million seed round announced in 2020, this brings GetVantage’s total funding raised to over $40 million.

As mentioned in an update shared with CI, this includes multiple debt lines “with leading NBFC partners to rapidly scale its all-in-one finance & growth platform.”

Aparajit Bhandarkar, Partner, Varanium Capital, will “join GetVantage’s board of directors.”

The new investment will “power the growth of GetVantage’s pioneering performance-based financing solution and embedded finance product, enhance technology infrastructure, scale its product suite to meet the evolving needs of fast-growing digital businesses, expand its growing portfolio of B2B SaaS and subscription-driven businesses, and explore new-market opportunities across Southeast Asia.”

Aparajit Bhandarkar, Partner, Varanium Nexgen Fund, said:

“By using data to unlock capital access for SMEs, GetVantage is pioneering a new approach to empower thousands of eCommerce entrepreneurs to grow their businesses on their terms. At Varanium we look to partner with founders and teams that have a bold approach to solving massive problems. We are thrilled to support Bhavik and the GetVantage management team to help accelerate GetVantage’s 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.”

Venkatesh Peddi, Managing Director, Chiratae Ventures, said:

“The strong growth the GetVantage team has delivered in a short period of time is impressive. GetVantage’s powerful platform combines customer-centric product design, world-class technology infrastructure, and an unwavering commitment to helping founders win. We have great confidence in the team and are thrilled to further support their vision in creating a high-impact platform to empower India’s digital entrepreneurs.”

Shivashish Chatterjee, Co-founder and Joint MD, DMI Group, said:

“The robust platform, high-quality portfolio, and innovative product suite that the GetVantage team has built is fueling impressive growth for businesses across sectors including D2C brands, B2B SaaS, etc. We’re excited to support GetVantage in their mission to provide India’s new-age businesses a modern, flexible capital alternative like performance-based financing that is frictionless and stress-free.”

Bhavik Vasa, Founder and CEO of GetVantage, said:

“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’re thrilled to welcome Varanium NexGen Fund, DMI Sparkle Fund, Sony Innovation Fund, InCred Capital, and Haldiram’s Family Office to our growing team of phenomenal investors and advisors to further our mission to help India’s new economy and brands unlock revenue potential on their terms. Aparajit is a leader with whom we share a commitment to help founders win and we are thrilled to welcome him to the team.”

Saurabh Jhalaria, CEO, InCred Finance said:

“With proven success in global markets, RBF is now gaining momentum in India and we are excited to join hands with GetVantage, a revenue based financing platform, to enable players in the D2C / SaaS segment to scale faster by giving them quick and easy access to credit. Combining GetVantage’s ability to source high-quality companies with our robust tech infrastructure and unmitigated risk management makes this an indomitable association providing us the opportunity to serve every business’ finance and growth needs at all touchpoints, with an extremely swift TAT and at scale that is outsized.”

GetVantage clams it “has built incredible momentum as the Revenue-Based Financing fintech pioneer in India.”

Launched in 2020, GetVantage offers entrepreneurs access “to equity-free capital between US$ 10,000 – $500,000 (₹ 5 lacs – ₹ 5 crore) in as fast as 5 days, as a founder-friendly alternative to traditional funding sources (like venture capital and bank debt).”

Nearly 4,000 businesses have “applied for non-dilutive financing via its platform.”

The company “uses a data-driven approach to eradicate bias and power faster funding decisions to help brands double-down on key growth areas like marketing, inventory, logistics, and expansion.”

In 2021, GetVantage “saw 300% year-on-year (YoY) growth and helped brands achieve 1.8x revenue growth post funding on average.”

To date, GetVantage’s revenue-based financing marketplace “has funded over US$270 million (₹ 2,200 crore) in GMV for over 350+ brands across 18 categories ranging from B2B SaaS & subscription businesses, D2C, eCommerce, edtech, healthtech, cloud kitchens, and nutrition, amongst others.”

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