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, Haldiram’s 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 solutions’. 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.
“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,” said, Bhavik Vasa, Founder and CEO of GetVantage.
“We’re 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 year”, he added.
The company claims to have generated over $270 million in Gross Merchandise Value (GMV) for over 350 brands across 18 categories including B2B SaaS and subscription, direct-to-commerce, ecommerce, ed-tech, health-tech, cloud kitchen and nutrition.
The startup aims to grow its embedded finance solutions by 30X in partnership with other ecommerce platforms and aims to provide funding options for merchants selling on various online marketplaces.
The company’s portfolio includes new age tech companies like Arata, Boldcare, Eat Better, Jade Forest, Naagin, Nua Wellness, Rage Coffee, etc.
GetVantage is on a mission to reimagine venture finance for founders and entrepreneurs looking to fuel growth without giving up control of their businesses. They empower business owners by providing them with the growth solutions they need to unlock their true potential – from affordable, non-dilutive capital to real-time marketing insights, and other business resources through their extensive partner ecosystem.
Their data-driven platform empowers founders with access to US$ 25,000 – US$ 250,000 in non-dulutive capital. No equity. No interest. No warrants. No board seats. No dilution. Just One Flat Fee that’s 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 founder’s 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.