GetVantage Raises US$ 5 million in Seed Round
GetVantage’s portfolio includes brands across eCommerce and direct-to-consumer (DTC) categories including - Edtech, E-Learning, B2B SaaS and subscription-based services, Personal Care, home care, Health Foods, and Fashion & Apparel.
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The Mumbai-based fintech platform GetVantage, pioneering Revenue-Based Financing for eCommerce and online businesses across India and Southeast Asia today announced it has raised a US$ 5 million seed round. The capital raised is a mixture of equity and debt-line, and sees the fintech company backed by Chiratae Ventures along with Dream Incubators Japan and other marquee NBFCs and debt funds.
GetVantage believes in a revenue-first approach that is purpose-built to empower India’s young eCommerce brands and burgeoning D2C sector achieve their scale and profitability targets sustainably.
Founded less than a year ago by seasoned fintech entrepreneur Bhavik Vasa, tech & Ops veteran Amit Srivastava and Sachin Tagra as incubate advisor, GetVantage’s fintech platform leverages an assortment of sales, marketing, and accounting data to offer growth capital for businesses based on current and projected revenue in a fraction of the time it takes to raise from traditional sources.
By empowering small business owners to focus on revenues, GetVantage has quickly established itself as the region’s first and only fully operational data-driven, RBF fintech platform that provides founders between INR 20 lacs to INR 2 crore of non-dilutive growth capital.
“There is a huge unmet financing opportunity as India’s digital economy takes centre-stage. Under Bhavik’s impressive vision and leadership the GetVantage team have built a powerful, proven deep-tech platform that is empowering eCommerce businesses with better financing options,” said Venkatesh Peddi, Partner at Chiratae Ventures.
The RBF model has become mainstream in foreign markets, with firms like Clearbanc, Lighter Capital, and Uncapped driving such widespread adoption that even eCommerce and payments giants Shopify and Stripe have launched their own financing products to capitalize on the momentum.
“We created GetVantage with the simple mission to reimagine venture finance for India’s online brands & startups that are clamoring for a smarter, fair, and frictionless funding alternative. As consumers have shifted online, more companies are looking at how they can take advantage of this digital-shift and the vast economic opportunities that come with it. Akin to Clearbanc and Stripe Capital, GetVantage is designed to help hundreds of small businesses owners with immediate and fair access to the capital they need to harness these new growth opportunities.” said Bhavik Vasa, Founder, GetVantage.
Unlike traditional funding sources, GetVantage doesn’t require business owners to give up equity or control via board seats, or warrants. “We’re fast seeing RBF becoming a preferred funding method for founders and startups looking to drive growth as it sits at the sweet spot between equity financing and debt, without any of the downsides. Our data-driven approach is based on performance. We connect to a customer’s existing sales and marketing platforms, like Shopify, Stripe, Google, and Facebook,’ adds Bhavik.
GetVantage previously raised a pre-seed round from early-stage investors including Samyakth Capital, Venture Catalysts, Astir Ventures and angels like Jana Balan, Vaibhav Karnavat (Glance Finance), Karun Arya, (Oriente, ex-Uber), Vivek Awasthi (CurrenciesDirect), Soham Avlani (9Unicorns), CA Anuj Golecha and others.
Since launching its TechFin (Tech-driven financing) platform a little less than a year ago, GetVantage has quickly become the leading partner helping founders reach new customers and focus on revenues. The company has a growing number of exciting businesses in its current portfolio and a robust pipeline. In the next two years, the company will expand into new markets across Southeast Asia starting with Singapore.
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