Revenue based financing startup GetVantage has raised $36 million in funding round from Varanium Nexgen Fintech Fund and DMI Sparkle Fund.
Existing investors like Chiratae Ventures and Dream Incubator Japan, as well as new investors like Sony Innovation Fund, InCred Capital, Haldiramās family office, among others also participated in this round.
With this fundraising, Aparajit Bhandarkar, partner at Varanium Capital, will join GetVantage's board of directors.
The company plans to use the funds to enhance its product range as well as its 'performance-based financing solutionsā. The new capital will also be used to enhance its technology infrastructure and expand its footprint in Southeast Asia.
The Mumbai-based GetVantage was founded in 2020 by Amit Srivastava and Bhavik Vasa, It is a revenue-based financing platform that enables startups to raise capital by pledging a certain percentage of their future revenue in return for the money invested.
The company also provides digital startups under its umbrella with a range of solutions for marketing, sales, logistics, payment gateways etc.
āWeāre thrilled to welcome Varanium NexGen Fund, DMI Sparkle Fund, Sony Innovation Fund, InCred Capital, and Haldiramās Family Office to our growing team of phenomenal investors and advisors to further our mission to help Indiaās new economy and brands unlock revenue potential on their terms,ā said, Bhavik Vasa, Founder and CEO of GetVantage.
āWeāre seeing thousands of new businesses and homegrown 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-plus businesses in the next yearā, he added.
The company claims to have generated over $270 million in Gross Merchandise Value (GMV) for over 350 brands across 18 categories including B2B SaaS and subscription, direct-to-commerce, ecommerce, ed-tech, health-tech, cloud kitchen and nutrition.
The startup aims to grow its embedded finance solutions by 30X in partnership with other ecommerce platforms and aims to provide funding options for merchants selling on various online marketplaces.
The company's portfolio includes new age tech companies like Arata, Boldcare, Eat Better, Jade Forest, Naagin, Nua Wellness, Rage Coffee, etc.
About GetVantage
GetVantage is on a mission to reimagine venture finance for founders and entrepreneurs looking to fuel growth without giving up control of their businesses. They empower business owners by providing them with the growth solutions they need to unlock their true potential - from affordable, non-dilutive capital to real-time marketing insights, and other business resources through their extensive partner ecosystem.
Their data-driven platform empowers founders with access to US$ 25,000 - US$ 250,000 in non-dulutive capital. No equity. No interest. No warrants. No board seats. No dilution. Just One Flat Fee thatās recovered as small, flexible shares of future revenues from the businesses they invest in.
GetVantage has quickly established itself as the leading Revenue-Based Financing platform offering growth capital to e-commerce entrepreneurs and online businesses across India & Southeast Asia.
GetVantage co-founders Bhavik Vasa and Amit Srivastava have always believed that for founders looking to scale their businesses, fundraising too often becomes a hurdle instead of a catalyst. Being entreprenuers themselves, Bhavik and Amit built GetVantage on two core principles: - they are Founder-friendly. Every member of their core team has been a founder at some point in their lives. They understand the founderās journey and have designed a fresh alternate financing solution to work for founders, not against them! - We are Revenue-first. We believe revenues are the best and fairest measure of growth. They're deeply committed to transforming the landscape of venture finance as invaluable growth partners for the brands they work with.
Their portfolio includes brands across e-commerce and D2C categories including - Edtech, E-Learning, B2B SaaS and subscription-based services, Personal Care, Home Care, Health Foods, and Fashion & Apparel.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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