Mumbai-based GetVantage has launched its SaaS Accelerator Fund II for B2B SaaS businesses. The new fund follows the alternative financing platform’s SaaS Accelerator Fund I, which was an INR 65 Cr vehicle floated in 2022.
GetVantage’s latest fund has a total corpus of INR 250 Cr and will be deployed over the next 12-18 months. It will disburse the funds through its own NBFC GetGrowth Capital, along with Varanium’s Debt Fund partnership among other NBFCs and alternative investment funds.
“We look forward to supporting more high-potential home-grown SaaS companies with recurring-revenue financing designed to help them scale without diluting equity, ownership, or control. GetVantage’s SaaS Runway Capital product launched in 2022 and proven over 18 months helps SaaS founders supercharge their ARR before their next equity raise,” said Karun Arya, chief growth officer of GetVantage.
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.
In 2022, GetVantage raised $36 Mn as part of a strategic funding round led by Varanium Nexgen Fintech Fund and DMI Sparkle Fund. Back then, the startup said it would use the funding to scale up its product line as well as its ‘performance-based financing solution.’
GetVantage competes with the likes of revenue-based financing startups – Velocity, Klub and Recur Club.
Its rival Velocity on Wednesday said it has earmarked INR 300 Cr ($36.1 Mn) to offer financing to B2B software-as-a-service (SaaS) startups.
In the first few days of 2024, the SaaS sector has seen high investment traction. Bengaluru-based Upekkha, a SaaS fund and accelerator, has announced the first close at $15 Mn of the larger $40 Mn Upekkha fund.
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