GetVantage raises Rs 63 crore for revenue-based financing
The platform lends against sales rather than collateral, and is now building rails so marketplaces can embed the same financing for their own merchants.
- Rs 63 crore Series A1, taking total funding past 47 million dollars.
- Backed by Rajeev Ahuja, ex RBL Bank MD, and SanRaj Group, with Chiratae and Varanium participating.
- Cheques run from Rs 2 lakh to Rs 20 crore, underwritten on cash flow rather than collateral.
- Money goes into Capital Gateway, an API layer letting marketplaces embed financing for merchants.
GetVantage has raised Rs 63 crore, about 6.6 million dollars, in a Series A1 round led by Rajeev Ahuja, the former managing director of RBL Bank, and SanRaj Group. Chiratae Ventures, Varanium Fintech Fund and VCMint participated. Total funding now exceeds 47 million dollars.
Founded in 2019 by Amit Srivastava and Bhavik Vasa, the platform provides revenue based financing: capital repaid as a share of monthly sales rather than on a fixed schedule, with no equity taken. Cheques range from Rs 2 lakh to Rs 20 crore, underwritten on alternative data and cash flow rather than collateral. It reports over 2,000 businesses funded, including Arata, Rage Coffee and Elevar.
The capital goes towards Capital Gateway, an API led layer that lets marketplaces and logistics companies embed financing for the merchants already on their platforms.
That last part is the more interesting half. Lending to a brand one at a time is a slow business. Lending through a platform that already holds the merchant’s sales data solves the underwriting problem at source, which is why marketplace embedded credit has been expanding quickly.
For brands the instrument suits a narrow, useful case: funding inventory you are confident of selling, or advertising with a proven payback window. It is a poor fit for anything speculative, because repayment begins whether or not the bet works.
Zane’s analysis draws on original reporting by Inc42. Read the original report.