[Funding alert] GetVantage raises $5M in seed round led by Chiratae Ventures and Dream Incubator

GetVantage, a Mumbai-based fintech platform pioneering revenue-based financing (RBF) for ecommerce and online businesses across India and Southeast Asia, on Tuesday announced that it had raised $5 million in a seed round. 

The capital raised is a mixture of equity and debt-line (money it can use for funding businesses), and led by Chiratae Ventures (formerly IDG Ventures) along with Dream Incubator (Japan) and other marquee NBFCs and debt funds. 

With this funding, GetVantage aims to empower India’s young ecommerce brands and burgeoning D2C sector to achieve scale and profitability targets sustainably. 

“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.

"GetVantage is designed to help hundreds of small businesses owners with immediate and fair access to the capital they need to harness these new growth opportunities,” said Bhavik Vasa, Founder, GetVantage.

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Founded less than a year ago by seasoned fintech entrepreneur Bhavik Vasa (ex-ItzCash, ex-EbixCash), tech and ops veteran Amit Srivastava (ex-SBC FinTech), and Sachin Tagra (ex-Brand Capital) as incubate advisor, 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 claims that it provides founders between Rs 20 lakh and Rs 2 crore of non-dilutive growth capital.

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 and apparel.

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," Bhavik said.

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, ex-Uber), Vivek Awasthi (CurrenciesDirect), Soham Avlani (9Unicorns), CA Anuj Golecha, and others.

In the next two years, the company will expand into new markets across Southeast Asia, starting with Singapore.