Finance Skilled Bhavik Vasa Launches New Fintech Mission GetVantage for India’s E-commerce Sector

Bhavik Vasa, an skilled Fintech entrepreneur and former CBO of the primary on-line pockets ItzCash in India, has launched a brand new monetary expertise undertaking, referred to as GetVantage, which is a revenue-based financing (RBF) platform for the e-commerce trade.

GetVantage has acquired capital from a number of early-stage funding companies together with Samyakth Capital, Enterprise Catalysts, and Astir Ventures. Angel traders together with Manish Patel (MSwpie) and Ankit Agarwal (Innoven Capital) have additionally invested within the startup.

A number of non-banking monetary firms (NBFCs) and debt funds have financed GetVantage’s operations as properly. The corporate now intends to additional develop into new markets throughout the Southeast Asia area, starting with Singapore.

RBF relies on a comparatively new different funding mannequin by way of which a agency secures funding from traders primarily based on data-driven estimates of its future earnings. The mannequin doesn’t require firm house owners to dilute fairness or management of their enterprise. It additionally doesn’t ask its house owners to supply collateral or any private ensures. The investor is ready to get well the capital invested as a share or share of the corporate’s future earnings. This quantity often contains the principal sum and a flat price.

Headquartered in Mumbai, GetVantage is reportedly the primary and solely totally practical sensible different funding resolution in India that permits startups to safe early-stage funding with out having to dilute possession. GetVantage additionally helps native traders in supporting India’s Fintech financial system development in a extra sustainable method.

Vasa famous:

“The normal means of elevating capital is advanced, cumbersome, and easily doesn’t work for all enterprises and enterprise house owners. Because of this, India’s burgeoning younger entrepreneurs and their digital-first companies proceed to be extremely underserved.”

He additionally talked about that the RBF may play an essential position in bettering India’s startup and on-line enterprise sector. The principle ideas and concept behind RBF got here from the belief and understanding that on-line companies require acceptable financing options that may work for founders by supporting their mission and objectives, as a substitute of working in opposition to them.

This alternate funding mannequin is turning into more and more fashionable in overseas markets, with firms corresponding to Clearbanc, Lighter Capital, and RevUp Capital working in direction of reworking how digital manufacturers are buying funding.

Anuj Golecha, founder at Samyakth Capital and co-founder Enterprise Catalyst remarked:

“Financing is coming into an fascinating part and there may be an pressing must democratize the fundraising course of. We’re excited to be at an inflection level of a brand new asset class getting structured within the type of Income-Based mostly Financing.”

The funding course of through RBF is data-driven and founders solely should pay a flat price, which is  recovered as shares of an organization’s future earnings.