GetVantage, a revenue-based finance platform (RBF), has raised $36 million in funding, backed by returning investors Chiratae Ventures and Dream Incubator Japan as well as Varanium Nexgen Fintech Fund and DMI Sparkle Fund.
Sony Innovation Fund, InCred Capital, and Haldiram’s Family Office also participated in the funding round, according to the announcement.
Bhavik Vasa, founder, and CEO of GetVantage, said their mission since day one has been to reshape the landscape of small business finance so 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,” Vasa added.
The investment is anticipated to fuel the growth of the company’s embedded finance products and performance-based financing solutions, improve technology infrastructure, scale its product suite to meet the evolving needs of quickly expanding digital businesses, diversify its portfolio of B2B SaaS and subscription-driven companies, and investigate new market opportunities throughout Southeast Asia.
Aparajit Bhandarkar, a partner at Varanium Nexgen Fund, said GetVantage is empowering thousands of e-commerce entrepreneurs to grow their businesses on their terms by using data to unlock capital access for SMEs.
Bhandarkar, who is set to join GetVantage’s board of directors, said they look to partner with founders and teams “that have a bold approach to solving massive problems”.
Over 350 enterprises from a variety of industries, including B2B SaaS, subscription businesses, D2C, eCommerce, edtech, etc., have received over $270 million in funding through GetVantage’s RBF marketplace.
In contrast to typical funding sources that demand firm owners to dilute stock or provide control via board seats, warrants, or other forms of control, the company offers founders non-dilutive growth capital ranging from Rs 5 lakh ($6,325.15) to Rs 5 crore ($632,515).
In 2021, GetVantage experienced a 300 percent year-over-year growth and aided brands in generating an average revenue increase of 1.8 times following funding. Arata, BoldCare, Eat Better, Jade Forest, Naagin, Nua Wellness, Rage Coffee, Sid Farms, and Zymrat are just a few of the different companies GetVantage has as clients.