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GetVantage, a revenue-based financing fintech, has raised a $36 million growth round 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 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 till date to over 40 million. This includes multiple debt lines with leading NBFC partners to scale its all-in-one finance and growth platform. Aparajit Bhandarkar, Partner, Varanium Capital, will join GetVantage’s board of directors.
The new investment will power the growth of GetVantage’s 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, the press note said.
Speaking on the fundraising, 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 e-commerce entrepreneurs to grow their businesses on their terms.”
“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,” said Bhavik Vasa, Founder and CEO of GetVantage.
“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 helping founders win, and we are thrilled to welcome him to the team.”
Equity-free capital
GetVantage offers entrepreneurs access to equity-free capital between $10,000 and $500,000 (₹5 lakhs-₹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 per cent 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 $270 million (₹2,200 crore) in GMV for over 350+ brands across 18 categories, ranging from B2B SaaS and subscription businesses, D2C, eCommerce, ed tech, health tech, cloud kitchens, and nutrition, amongst others.
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