[Funding Alert] Fintech Platform GetVantage Raises $5 Million Led by Chiratae Ventures With this funding, GetVantage aims to empower India's young e-commerce brands and burgeoning D2C sector to achieve scale and profitability
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The Mumbai-based fintech platform GetVantage on Tuesday announced that it has raised $5 million in a funding round led by Chiratae Ventures along with Japan's Dream Incubators and other marquee NBFCs (non-banking financial companies) and debt funds.
The startup believes in a revenue-first approach that is purpose-built to empower India's young e-commerce brands and burgeoning D2C sector to achieve its scale and profitability targets sustainably.
"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 e-commerce businesses with better financing options," said Chiratae Ventures partner Venkatesh Peddi. "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."
By empowering small business owners to focus on revenue, the startup has quickly established itself as the fintech platform that provides founders between INR 20 lakh ($25,000) to INR 2 crore ($250,000) of non-dilutive growth capital.
"We created GetVantage with the simple mission to reimagine venture finance for India's online brands and startups that are clamoring for a smarter, fair, and frictionless funding alternative," said GetVantage founder Bhavik Vasa.
"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."
The company's portfolio includes brands across e-commerce and direct-to-consumer (DTC) categories including edtech, e-learning, B2B SaaS and subscription-based services, personal care, home care, health foods, and fashion and 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 Dream Incubator (DI) India managing director Munehiko Eto. "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-plus 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."
"We're fast seeing RBF becoming a preferred funding method for founders and startups looking to drive growth as it sit 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 Vasa.
In the next two years, the company will expand into new markets across Southeast Asia starting with Singapore.
