Jump to content

GetVantage

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by OrtizHugo (talk | contribs) at 05:50, 14 August 2024 (added Category:Indian companies established in 2019 using HotCat). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

GetVantage
Company typePrivate
Industry
Founded2019; 5 years ago (2019)
Founders
  • Bhavik Vasa
  • Amit Srivastava
Headquarters,
India
Area served
India
Products
Websitegetvantage.co

GetVantage is a financial technology company specializing in revenue-based financing, which provides alternative funding solutions to small and medium-sized enterprises and startups.[1]

History

Founded in 2019, GetVantage offers businesses access to non-dilutive capital by advancing funds based on their projected revenue streams.[2][3] Businesses repay the financing through a percentage of their future revenues, aligning repayment with their cash flow and enabling more flexible and scalable growth.[4][5]

The company employs algorithms for financing decisions, aiming to reduce bias and expedite the application process. Central to its technology are a proprietary machine learning model called the Credit Decision Engine and a cloud-based Deal Management System.[6]

In May 2023, GetVantage obtained a license as a non-banking financial company from the Reserve Bank of India for its NBFC division, GetGrowth Capital.[7][8]

As of early April 2024, the company facilitated funding for over 1,500 SMEs across sectors including B2B SaaS, Cleantech, eCommerce, and QSRs, leveraging India’s digital infrastructure stack, such as the Open Credit Enablement Network and Open Network for Digital Commerce.[5]

Funding

The company is funded by Chiratae Ventures, Varanium, InCred, DMI, and Japanese entities such as Sony and DI.[9]

References

  1. ^ Bardhan, Saptak (2022-11-02). "Simplifying Access To Funds". Entrepreneur. Retrieved 2024-08-14.
  2. ^ "Start-up Ecosystem Sees Surge in Demand for Revenue-Based Financing: Report". Outlook Business. 2024-03-18. Retrieved 2024-08-14.
  3. ^ Bera, Ayanti (2024-03-18). "Startups are now crowding for revenue-based financing". Financial Express. Retrieved 2024-08-14.
  4. ^ Singh, Rajiv. "How GetVantage Is Democratising Access To Working Capital For Underserved Businesses". Forbes India. Retrieved 2024-08-14.
  5. ^ a b "GetVantange invested in over 750 companies, mostly consumer facing firms in FY24". The Economic Times. 2024-05-31. ISSN 0013-0389. Retrieved 2024-08-14.
  6. ^ Shu, Catherine (2022-06-30). "GetVantage offers revenue-based financing to India's founders". TechCrunch. Retrieved 2024-08-14.
  7. ^ Bureau, The Hindu (2023-05-04). "GetVantage secures NBFC licence". The Hindu. ISSN 0971-751X. Retrieved 2024-08-14. {{cite news}}: |last= has generic name (help)
  8. ^ "Revenue-based financing startup GetVantage secures NBFC licence from RBI". The Economic Times. 2023-05-04. ISSN 0013-0389. Retrieved 2024-08-14.
  9. ^ Bureau, Our (2020-10-27). "GetVantage raises $5 million from Chiratae Ventures, Dream Incubators, others". Hindu Business Line. Retrieved 2024-08-14. {{cite web}}: |last= has generic name (help)

Further reading