GetVantage, a fintech platform that provides alternative financing, has announced the opening of its Rise-Up Fund, which is devoted to providing capital to support the businesses of women entrepreneurs. This non-dilutive fund has a Rs 100 crore initial corpus and plans to deploy the capital within the next 12 months.
Additionally, GetVantage has announced a collaboration with the diversity-focused network Encubay.
GetVantage is a non-dilutive capital provider for small and medium-sized enterprises (SMEs), and it was founded in 2020 by Bhavik Vasa. It makes data-driven investments possible for businesses looking to grow from Rs 5 lakhs to Rs 20 crore.
The Mumbai-based company claims that in addition to Varanium’s Debt Fund partnership and other NBFCs and AIFs, it will distribute the funds through its own NBFC, GetGrowth Capital. It revealed the existence of its Rs 250 crore SaaS Accelerator Fund II in January.
Various non-dilutive working capital solutions for marketing, inventory, logistics, and other recurring CapEx are offered by GetVantage’s platform to businesses in a variety of sectors, including cloud kitchens, edtech, B2B SaaS, eCommerce, D2C, and many more. According to the company, more than 15,000 people have signed up on its platform, and it has made investments in more than 850 modern Indian businesses.
In order to promote engagement among women entrepreneurs throughout India, GetVantage noted that it had previously partnered with the women’s community leap.club in 2023. The partnership helped create strong connections, dialogues, and growth by bringing together female entrepreneurs, investors, and enablers through community outreach.
In India, women-owned businesses face an unmet credit gap of over $11.4 billion, and these women founders received only 5.2% of the outstanding credit that Indian public sector banks awarded to businesses. This information comes from a report published by the World Economic Forum and IFC.
