DI invests in GetVantage
Tech based Platform GETVANTAGE TECH PRIVATE LIMITED (“GetVantage”), fast emerging as a leader in the India’s first revenue-based financing platform facilitating growth stage businesses to fund their digital spends has closed Seed Funding round led by Chiratae, with Investments from Dream Incubator. Current COVID-19 crisis has brought losses and uncertainty in business. These are challenging times for everyone starting from giant players to start-ups, everyone is facing the heat due ever-increasing debt from banks and limited cash flows.
Investors have been holding back as there isn’t any idea on when the businesses will stand again. Any Alternative fund-raising options take time and comes at the cost of high interest rate debt or dilution of equity. Getting Credit has become a challenge now. Start-ups who have received funds need credit flexibility in returning the fixed amount to pay back. These strategic funds will help GetVantage in enhancing the easy money lending to SMEs. GetVantage is uniquely positioned as a player who has Faster turnaround for approval without any equity dilution, also money deductions take place in proportions of the revenue earned Commenting on the development, Bhavik Vasa, MD & CEO, GETVANTAGE TECH PRIVATE LIMITED has said that , This Funding will help us expand our services and client-base who need to improve the Financial Flow and digitise spends to bring in more transparency. Currently it is very difficult for start-ups to mobilise funds from the traditional channels like banks and VCs to meet marketing and other spends.
While start-ups have hard time raising from banks due to their limited cash flows, it takes time to raise funds from VCs. In case of Venture funding they need to dilute equity at lower valuations and are required pay back a fixed amount each month making the process cumbersome.
But Getvantage handles all these pain points with ease and provides funds for digital spends of the start-ups based on their revenue.
The Mumbai based start-up, which has pioneered this PoSP model, will use the funds to further scale up their digital network across the country. Mr Munehiko Eto, MD of Dream Incubator (DI) India said, “India is standing on the cusp of the explosive growth of digital-first brands. We believe that GetVantage’s pioneering revenue-based financing platform for digital spends can be the key enabler of this growth. GetVantage’s seasoned founding team has built a unique data-led lending model, which not only provides easy and flexible access to capital but also ensures prudent risk management. We see strong synergies between GetVantage and our India portfolio of 23+ digital startups and also look forward to supporting GetVantage’s business development together with Japanese corporations.”
Dream Incubator (https://www.dreamincubator.com/in/) is active Japanese venture capital in India and has backed 23 startups across sectors such as healthcare, finance, media and entertainment, mobility and education. It’s India portfolio includes fintech startups like Moneyview, Turtlemint, Instamojo, Unocoin and Active.ai. Worldwide DI has invested in more than 170 startups across 8 countries, out of which 30 have gone public till date.