GetVantage, a revenue-based financing (RBF) fintech, has raised $36 million in a spherical led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund and present buyers Chiratae Ventures and Dream Incubator Japan.
Other buyers like Sony Innovation Fund, InCred Capital and Haldiram’s Family Office participated within the spherical, too.
The firm plans to make use of the capital to speed up its development, discover newer markets and alternatives throughout Southeast Asia, it stated in an announcement.
Including the most recent fundraise, which occurred in a spherical between its seed and Series A, the agency has secured $40 million in whole to date. The firm stated it has additionally acquired capital via a number of debt traces from a number of non-banking monetary firms (NBFCs).
Using a tech-first strategy, GetVantage’s RBF platform helps founders to use for “a bespoke funding offer” and get funded in lower than 5 days, the corporate claimed.
“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,” stated Bhavik Vasa, founder and CEO, GetVantage.
The Mumbai-based firm was launched in 2020 by Bhavik Vasa and Amit Srivastava and claims to have already funded over $270 million in gross merchandise worth (GMV) for over 350 manufacturers throughout 18 classes starting from subscription companies, e-commerce, edtech, healthtech, cloud kitchens and diet, amongst others.
Speaking on the fundraising, Aparajit Bhandarkar, associate, Varanium Nexgen Fund stated, “By using data to unlock capital access for small and medium enterprises (SMEs), GetVantage is pioneering a new approach to empower thousands of e-commerce entrepreneurs to grow their businesses on their terms.”
Source: www.financialexpress.com”