PE Fund Investments
Revenue-based financing startup GetVantage raises $36-M led by Varanium Nexgen, DMI Sparkle, others
Mumbai-based GetVantage, a revenue-based financing fintech, has raised USD 36 million in a round led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, and existing investors Chiratae Ventures and Dream Incubator. Other new investors who participated in this round include Sony Innovation Fund, InCred Capital, and Haldiram's Family Office. Aparajit Bhandarkar, Partner, Varanium Capital, will join GetVantage's board of directors. The raised funds will be used to power the growth of GetVantage's performance-based financing solution and embedded finance product; enhance technology infrastructure; scale product suite to meet the needs of digital businesses; expand portfolio of B2B SaaS and subscription-driven businesses; and explore new-market opportunities across Southeast Asia. GetVantage offers entrepreneurs access to equity-free capital between USD 10,000 and USD 500,000 (INR 5 lakh-INR 5 crore), as a founder-friendly alternative to traditional funding sources (like venture capital and bank debt). It claims that nearly 4,000 businesses have applied for non-dilutive financing via its platform.
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