GetVantage Raises $36M to Grow Revenue-Based Financing Biz

Alternative revenue-based funding platform GetAdvantage raised $36 million in equity and debt led by DMI Sparkle Fund and Varanium Nexgen Fintech Fund, with Varanium’s partner Aparajit Bhandarkar joining the GetAdvantage board, according to multiple reports on Thursday (June 30).

Returning investors Chiratae Ventures and Dream Incubator Japan also participated in the funding round, along with new investors Sony Innovation Fund, InCred Capital, Haldiram’s family office and others. 

Headquartered in Mumbai and co-founded in 2019 by FinTech veterans CEO Bhavik Vasa and CTO Amit Srivastava, the startup offers entrepreneurs a suite of growth solutions that include equity-free funding, real-time insights and optimization tools, according to its website. 

See also: GetVantage Offers India’s SMBs Revenue-Based Financing With A Twist

GetVantage aims to fill the funding gap for small- to medium-sized businesses (SMBs) that don’t want or have access to equity funding and also desire to sidestep high-interest bank loans. The revenue-based financing platform enables startups to raise capital by pledging a certain percentage of their future revenues in exchange for money invested.

The fresh capital will be used to expand its product suite, boost its technology infrastructure and grow its presence in Southeast Asia. 

“We’re seeing thousands of new businesses and home-grown 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+ businesses in the next year,” Vasa told Inc42.

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GetVantage has so far raised $41 million since launching, including a $5 million seed funding round in 2020.

The company offers equity-free capital in five days between INR 5 Lakh and INR 5 Cr, per Inc42. Last year it posted 300% year-on-year growth, with more than 4,000 businesses applying for funding. Since its inception, GetVantage has processed over INR 2,200 Cr in gross merchandise volume for over 350 brands.