Revenue-based finance start-up GetVantage raises $36 mn 

GetVantage, a revenue-based financing fintech and growth platform for SMEs, has raised $36 million in a funding round led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund,empowering and existing investors Chiratae Ventures and Dream Incubator Japan.  

Other new investors who participated in this round included Sony Innovation Fund, InCred Capital, and Haldiram’s Family Office among others.  

Combined with the $5 million seed round announced in 2020, the latest round has brought GetVantage’s total funding till date to over $40 million. This includes multiple debt lines with leading NBFC partners to rapidly scale its finance and growth platform.  

The new investment will enhance the growth of the start-up’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 their growing portfolio of B2B SaaS and subscription-driven businesses, and explore new-market opportunities across Southeast Asia.  

Meanwhile, Aparajit Bhandarkar, Partner, Varanium Capital, will be joining GetVantage’s board of directors.  

“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,” said Bhandarkar.  

Launched in 2020, GetVantage offers entrepreneurs access to equity-free capital between $10,000 and $500,000 (Rs5 lakh to Rs5 crore) in just five days – a founder-friendly alternative to traditional funding sources like venture capital and bank debt.  

Nearly 4,000 businesses have applied for non-dilutive financing through its platform with the start-up registering a 300% year-on-year (YoY) growth in 2021. Till date, GetVantage’s revenue-based financing marketplace has funded over $270 million (Rs2,200 crore) in GMV for over 350 brands from across 18 categories.  

The Mumbai-based start-up was launched in 2020 by fintech entrepreneur Bhavik Vasa along with technology and operations veteran Amit Srivastava.  

“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 Vasa.  

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