SUMMARY
This fresh corpus will be deployed within the next 12 months for scaling up over 400 women-led businesses
The company claimed that over 40% of Getvantage’s business portfolio (more than 800 businesses) is led by inspiring women entrepreneurs
This comes days after Mumbai-based GetVantage launched its SaaS Accelerator Fund II for B2B SaaS businesses with a total corpus of INR 250 Cr
Revenue-based financing platform GetVantage has rolled out a new fund to back women entrepreneurs and businesses.
The Rise-Up fund, with an initial corpus of INR 100 Cr (around $12 Mn), will be deployed within the next one year to support over 400 women-led businesses, the company said in a statement.
GetVantage will disburse the funds through its own NBFC GetGrowth Capital, along with Varanium’s Debt Fund partnership, among other NBFCs and AIFs.
It claims that over 40% of its business portfolio is led by women entrepreneurs.
Karun Arya, chief growth officer, GetVantage, said, “Despite running successful businesses, women entrepreneurs everywhere remain chronically underrepresented and underserved by the incumbent venture finance infrastructure. The Rise-Up fund by GetVantage expands our commitment to empowering women entrepreneurs in India.”
Founded in 2020 by Bhavik Vasa and Amit Srivastava, GetVantage is a cashflow-based financing platform. It secured an NBFC license earlier last year.
The platform provides various non-dilutive working capital solutions for marketing, inventory, logistics, and other recurring CapEx to businesses across sectors, including B2B SaaS, eCommerce, D2C, ed-tech, cloud kitchens, and many more. The company claims to have a broad investment portfolio of over 750 new-age companies.
This comes days after Mumbai-based GetVantage launched its SaaS Accelerator Fund II for B2B SaaS businesses with a total corpus of INR 250 Cr.
The platform competes against the likes of Velocity, Klub and Recur Club.
Even though women-founded businesses comprise only 18% of the Indian startup landscape, but the country has minted 17 such unicorns, including Nykaa, Mamaearth, Hasura and The Good Glamm Group, among others, which has atleast one female founder.
This comes at a time when the world is celebrating International Women’s Day (March 8) and a slew of VC firms and startups in India are either floating or closing women-focussed funds.
For instance, on Thursday, Mumbai-based venture capital firm Colossa Ventures marked the first close of its maiden women-focused fund at INR 100 Cr ($12 Mn).
As per Inc42’s data, women-led early stage startups raised the lowest funding in 2023 at a little over $56 Mn, while growth and late stage businesses secured $198 Mn and $189 Mn, respectively.
