Indian revenue-based financing firm GetVantage bags $36m funding
GetVantage, an Indian revenue-based financing platform for small and medium-sized enterprises (SMEs), has raised $36 million in a growth funding round.
GetVantage raises $36m funding
The round was co-led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund and returning investors Chiratae Ventures and Dream Incubator Japan.
New investors who participated in the round include Sony Innovation Fund, InCred Capital and Haldiram’s Family Office, among others.
Combined with the firm’s $5 million seed round announced in 2020, this new investment brings GetVantage’s total funding raised to $41 million.
The company says the new money will be used to grow its platform and scale its embedded finance product, enhance its tech infrastructure, expand its growing portfolio of B2B SaaS and subscription-driven businesses and explore new market opportunities across Southeast Asia.
Launched in 2020, GetVantage offers entrepreneurs access to equity-free capital between $10,000 to $500,000 “in as fast as five days”.
GetVantage says it provides “a founder-friendly alternative” to traditional funding sources, such as venture capital and bank debt. It uses data to power “faster” funding decisions and help businesses grow.
The company claims to have nearly 4,000 businesses using its platform, seeing 300% year-on-year growth in 2021 and funding over $270 million in gross merchandise volume to date.
