Led by Chiratae Ventures (formerly IDG Ventures) with participation from Dream Incubator Inc (Japan); capital is a mixture of equity and debt
Offers an innovative new financing option for emerging digital businesses, allowing founders to raise vital working capital – without equity, interest or warrants.
Committed to funding 200+ eCommerce and D2C brands over the next 2 years.
GetVantage, the Mumbai-based fintech platform pioneering Revenue-Based Financing (RBF) for eCommerce and online businesses across India and Southeast Asia today announced it has raised a US$ 5 million seed round. The capital raised is a mixture of equity and debt (money it can use for funding businesses) and sees the fintech company backed by Chiratae Ventures (formerly IDG Ventures) along with Dream Incubators (Japan) and other marquee NBFCs and debt funds.
GetVantage believes in a revenue-first approach that is purpose-built to empower young eCommerce brands and the burgeoning D2C sector to achieve its scale and profitability targets sustainably.
Founded less than a year ago by seasoned fintech entrepreneur Bhavik Vasa (ex-ItzCash, ex-EbixCash) and Tech & Ops veteran Amit Srivastava (ex-SBCFintech), GetVantage’s fintech platform leverages an assortment of sales, marketing, and accounting data to offer growth capital for businesses based on current and projected (future) revenue in a fraction of the time it takes to raise from traditional sources.
By empowering small business owners to focus on revenues, GetVantage has quickly established itself as the region’s first and only fully operational data-driven, RBF fintech platform that provides founders between US$ 25k (INR 20 lacs) to US$ 250k (INR 2 crore) of non-dilutive growth capital.
“There is a huge unmet financing opportunity as India’s digital economy takes center-stage. Under Bhavik’s impressive vision and leadership the GetVantage team has built a powerful, proven deep-tech platform that is empowering eCommerce businesses with better financing options,” said Venkatesh Peddi, Partner at Chiratae Ventures. “We are proud to partner with Bhavik and the team to help them achieve this goal and reimagine the future of venture finance for India and Southeast Asia.”
The RBF model has become mainstream in foreign markets, with firms like Clearbanc, Lighter Capital, and Uncapped driving such widespread adoption that even eCommerce and payments giants Shopify and Stripe have launched their own financing products to capitalize on the momentum.
“We created GetVantage with the simple mission to reimagine venture finance for India’s online brands & startups that are clamoring for a smarter, fair, and frictionless funding alternative,” said Bhavik Vasa, Founder, GetVantage. “As consumers have shifted online, more companies are looking at how they can take advantage of this digital-shift and the vast economic opportunities that come with it. Akin to Clearbanc and Stripe Capital, GetVantage is designed to help hundreds of small business owners with immediate and fair access to the capital they need to harness these new growth opportunities.”
GetVantage’s portfolio includes brands across eCommerce and direct-to-consumer (DTC) categories including – Edtech, E-Learning, B2B SaaS and subscription-based services, Personal Care, home care, Health Foods, and Fashion & Apparel.
“India’s new economy is on the cusp of explosive growth fueled by a growing number of digital-first and D2C brands. GetVantage’s pioneering revenue-based financing model will be a key enabler of this growth,” said Mr. Munehiko Eto, MD of Dream Incubator (DI) India. “Their seasoned founding team has built a unique data-driven, alternative-financing model, which provides not only easy and flexible access to capital but also world-class risk management. We also see strong synergies between GetVantage and our India portfolio of 23+ digital startups. We believe that GetVantage will be used by thousands of high-growth businesses in the coming months and are excited to support GetVantage’s future business development efforts across the region.”
Unlike traditional funding sources, GetVantage doesn’t require business owners to give up equity or control via board seats, or warrants. “We’re fast seeing RBF becoming a preferred funding method for founders and startups looking to drive growth as it sits at the sweet spot between equity financing and debt, without any of the downsides. Our data-driven approach is based on performance. We connect to a customer’s existing sales and marketing platforms, like Shopify, Stripe, Google, and Facebook,’” adds Bhavik.
GetVantage previously raised a pre-seed round from early-stage investors including Samyakth Capital, Venture Catalysts, Astir Ventures, and angels like Jana Balan, Vaibhav Karnavat (Glance Finance), Karun Arya, (Oriente), Vivek Awasthi (CurrenciesDirect), Soham Avlani (9Unicorns), CA Anuj Golecha and others.
Since launching its TechFin (Tech-driven Financing) platform a little less than a year ago, GetVantage has quickly become the leading growth partner helping founders reach new customers and focus on revenues. The company has a number of exciting businesses in its current portfolio and a robust pipeline. In the next two years, GetVantage is will expand into new markets across Southeast Asia starting with Singapore.
GetVantage is open to applications and has only one thing to say to India’s digital businesses – “You focus on Revenues. We’ll bring in the Capital.”
