Indian Fintech GetVantage Acquires $5 Million in Seed Funding to Develop Digital Commerce Options

India-based Fintech platform GetVantage has acquired $5 million in capital by means of a seed funding spherical that included debt and fairness financing. Chiratae Ventures (beforehand IDG Ventures) and Dream Incubators (from Japan) took half within the spherical together with different traders – which included non-bank monetary establishments (NBFCs) and debt funds.

GetVantage has additionally managed to boost funds by means of a pre-seed spherical from early-stage traders equivalent to Astir Ventures, Samyakth Capital, and Enterprise Catalysts. The Fintech firm has additionally acquired contributions from angel traders together with Jana Balan, Vaibhav Karnavat (from Look Finance), Karun Arya (Oriente, and beforehand Uber), Vivek Awasthi (from CurrenciesDirect) and Soham Avlani (from 9Unicorns).

Bhavik Vasa, Founder at GetVantage, acknowledged:

“As shoppers have shifted on-line, extra corporations are taking a look at how they’ll reap the benefits of this digital-shift and the huge financial alternatives that include it. Akin to Clearbanc and Stripe Capital, GetVantage is designed to assist a whole lot of small companies house owners with quick and truthful entry to the capital they should harness these new progress alternatives.”

Established a couple of 12 months in the past by Fintech veteran Bhavik Vasa (beforehand at ItzCash and EbixCash) and Amit Srivastava, an skilled expertise skilled, and Sachin Tagra (beforehand at BrandCapital), GetVantage gives financing and digital commerce options in India and Southeast Asia.

GetVantage’s portfolio consists of digital commerce and direct-to-consumer options equivalent to these targeted on Edtech, on-line studying, B2B SaaS and varied subscription providers.

As reported in January 2020, Bhavik Vasa had launched his Fintech undertaking, known as GetVantage, which he described as a revenue-based financing (RBF) platform for the e-commerce trade.

RBF is predicated on a comparatively new various funding mannequin by means of which a agency secures funding from traders based mostly 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 offer collateral or any private ensures. The investor is ready to get better the capital invested as a share or share of the corporate’s future earnings. This quantity often consists of the principal sum and a flat price.

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

Vasa had famous (in January 2020):

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