GetVantage, India’s market-leading revenue-based financing fintech & growth platform for SMEs has raised a US$ 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.
Significant dry powder to back and boost growth for 1000+ founders Combined with the US$ 5 million seed round announced in 2020, this brings GetVantage’s total funding raised till date to over USD 40 million. 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.
Speaking on the fundraising, new and existing investors were full of confidence “By using data to unlock capital access for SMEs, GetVantage is pioneering a new approach to empowering thousands of eCommerce entrepreneurs to grow their businesses on their terms,“ said Aparajit Bhandarkar, Partner, Varanium Nexgen Fund. “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.”
“The strong growth the GetVantage team has delivered in a short period of time is impressive,” said Venkatesh Peddi, Managing Director, Chiratae Ventures. “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.”
“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,” commented Shivashish Chatterjee, Co-founder, and Joint MD, DMI Group. “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.”
“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 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.
Speaking of GetVantage’s equity-free financing solution, Sachin Shirol, Co-Founder, Arcatron, India’s largest and fastest-growing assisted living the brand, which has scaled its revenue by 200% after taking funding from GetVantage said, “When traditional sources of financing are closed for start-ups like us, GetVantage stepped in to provide the necessary funding to meet our working capital requirements and marketing expenses. Their all-digital, data-driven approach ensured the entire process from application to funding, and even repayments were frictionless and hassle-free. Partners like GetVantage have helped us to grow exponentially and we like to call this ‘Scaling Without Diluting’”.
GetVantage 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 crores) 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$270 million (₹ 2,200 crores) in GMV for over 350+ brands across 18 categories ranging from B2B SaaS & subscription businesses, D2C, eCommerce, edtech, health tech, cloud kitchens, and nutrition, amongst others.
Vasa added, “We’re seeing thousands of new businesses and home-grown brands eager to scale up and we are excited to work with incredible investors and funding partners like DMI Finance and InCred to provide founder-friendly capital to supercharge growth for over 1,000+ businesses in the next year.”
Data-driven decision-making powers frictionless funding for founders:
Using a tech-first approach, GetVantage’s RBF platform makes funding truly frictionless for founders who can apply in minutes, get a bespoke funding offer within 48 hours, and get funded in less than 5 days. In addition to non-dilutive capital, portfolio companies get access to real-time insights, a mentor network, and the most powerful partner rewards ecosystem for startups in the country.
GetVantage has also established strong platform partnerships with over 50 ecosystem partners to provide access to high-impact growth and eCommerce enablement solutions including marketing, sales, logistics, payment gateways, productivity, and many more, specifically curated to help digital businesses overcome growth challenges. The company is also committed to scaling its embedded finance solution by 30x in partnership with India’s leading eCommerce platforms (with a potential market opportunity of US$ 100 billion by 2025) to support thousands of digital businesses with non-dilutive growth capital. Merchants on various online marketplaces can already access GetVantage’s founder-friendly funding options either directly on the platforms they sell on or via their preferred payment gateways, marketing, and logistics partners.
The company is poised to supercharge growth for thousands of new-age brands and digital businesses that are taking off in India. As the leading all-in-one finance & growth platform for SMEs, GetVantage has quickly built a robust and diverse portfolio that consists of the most exciting and fastest-growing new brands in India including Arata, BoldCare, Eat Better, Jade Forest, Naagin, Nua Wellness, Rage Coffee, Sid Farms, Zymrat, and many more.
GetVantage is India’s leading Revenue-Based Financing platform providing fast, fair, flexible equity-free capital to digital SMEs. Launched in 2020 by seasoned fintech entrepreneur Bhavik Vasa and Tech & Ops veteran Amit Srivastava and headquartered in Mumbai, GetVantage makes data-driven investments up to US$ 500k to hypercharge growth for digital brands.
About Varanium Nextgen Fintech Fund / Varanium Capital
Varanium Capital is a Global Multi-Asset Boutique Asset Manager- focused on Emerging Market Strategies managing more than 1 Bn USD. Its services include Portfolio Management and Advisory, alternate investment, and other offshore products. Varanium NexGen Fund, a Cat-I AIF is part of Varanium Capital Advisors Pvt. Ltd. This is an Early Stage Fund focusing on FinTech start-ups.
DMI Sparkle Fund, launched by DMI Group in 2017, is a new-age $40 million Alternative Investment Fund that invests in fintech companies and start-ups that can devise innovative financial products or expand markets through new technological solutions.
DMI Group was founded in 2008 and supported by a deeply experienced team across 40 offices in India. DMI is a pan-India credit platform with core businesses in digital consumer and MSME finance, housing finance, wholesale finance, and asset management. It is a technology-first lender with class-leading digital finance initiatives. It is supported by global institutional investors, strategic family offices, leading banks, and public market creditors in India.
About Chiratae Ventures:
Launched in 2006, Chiratae Ventures India Advisors is India’s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively have close to $1Bn under management and 125+ investee companies across SaaS, Consumer Media & Tech, Health-tech, and Fin-tech. The fund has been an early backer of Cure.fit, FirstCry, Flipkart, Globalbees, Lenskart, Manthan, Myntra, PolicyBazaar and has invested in leaders like AgroStar, Bizongo, Bounce, Cropin, EarlySalary, GoMechanic, HealthifyMe, Hevo Data, Pyxis, and Uniphore Vayana, amongst others. Chiratae closed its fourth fund, oversubscribed at $337 million in 2021. The team has delivered value for its investors through the years with over 43 exits, 3 IPOs, and 8 Unicorns, with more around the corner.
About Dream Incubator Inc (Japan):
Dream Incubator is active Japanese venture capital in India and has backed 23 startups across sectors such as healthcare, finance, media and entertainment, mobility, and education. Its India portfolio includes fintech startups like Moneyview, Turtlemint, Instamojo, Unocoin, and Active.ai. Worldwide DI has invested in more than 170 startups across 8 countries, out of which 30 have gone public to date.
About InCred Finance:
InCred Finance is a new-age, tech-and risk-analytics-focused lending institution founded in 2016 by Bhupinder Singh. Its business verticals include Retail Lending, Small Business Lending, and Education Finance. InCred’s lending approach is based on the twin pillars of domain expertise and risk analytics with a cutting-edge tech architecture acting as the backbone for the firm’s full suite of functions and processes. InCred’s equity investors include former Deutsche Bank co-CEO Anshu Jain, Ranjan Pai of Manipal Group, OAKS Asset Management, Investcorp, FMO, Moore Capital, and Elevar.
About Sony Ventures Corporation
Sony Ventures Corporation manages the Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges. SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking a return on investment. Sony Ventures Corporation, a wholly-owned subsidiary of Sony Group Corporation, is headquartered in Japan.