GetVantage Secures Rs 63 Crore in Hybrid Capital for MSMEs

GetVantage is a leading B2B fintech platform aimed at MSMEs, having successfully obtained Rs 63 crore ($6.6 million) in hybrid capital, which consists of both equity and debt. This Series A1 funding round has increased the total committed funding capacity of the Mumbai-based enterprise to over Rs 700 crore. The round was co-led by Rajeev Ahuja and SanRaj Group, with additional support from Chiratae Ventures, Varanium Fintech Fund, and VCMint.

Initiatives to Empower Women Entrepreneurs

In March 2024, GetVantage introduced the Rise Up Fund, specifically focused on providing growth capital to women entrepreneurs, with an initial corpus of Rs 100 crore. Earlier in January, the company had also launched the SaaS Accelerator Fund II, aimed at supporting B2B SaaS businesses.

Utilisation of Funds for Expansion

According to a press release, the funds raised will be allocated towards expansion while facilitating the transformation into an AI-native capital gateway. This will enable Indian MSMEs to gain faster and smarter access to growth capital.

Background and Vision of GetVantage

Founded in 2020 by Bhavik Vasa, GetVantage integrates seamless financing solutions within marketplaces and merchant ecosystems, allowing businesses to access growth capital without the need for equity dilution or significant collateral. The platform effectively addresses the Rs 30 lakh crore credit gap faced by MSMEs in India, attracting investment from notable entities such as Chiratae Ventures, Varanium Fintech Fund, Sony Fund, InCred, and various industry veterans.

Innovative Approach to Underwriting

GetVantage employs alternative data and predictive analytics to underwrite businesses based on their actual cash flows. This innovative method significantly eases the challenges encountered by Indian founders and SMEs when seeking growth capital.

Plans for Scaling the Capital Gateway

The platform aims to expand its capital gateway, featuring a plug-and-play API ecosystem that allows B2B e-commerce platforms, marketplaces, and logistics hubs to integrate financing options directly into their merchant ecosystems. In the upcoming months, GetVantage intends to announce several strategic partnerships for seller financing with prominent digital ecosystems, thereby reinforcing its role as an embedded finance partner for platforms eager to enhance their merchants’ growth.