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Former ItzCash CBO, Bhavik Vasa launches FinTech venture GetVantage

Bhavik Vasa, Founder, GetVantage

Bhavik Vasa, a serial FinTech entrepreneur and former CBO of India’s first digital wallet ItzCash, has officially launched his new FinTech venture GetVantage, revenue-based financing (RBF) platform for the e-Commerce sector.

The company already has received a funding of undisclosed amount from a clutch of early-stage investors including Samyakth Capital, Venture Catalysts, Astir Ventures along with some angel investors such as Manish Patel (MSwpie), and Ankit Agarwal (Innoven Capital). Some marquee NBFCs and debt funds also the venture’s funding partners. With the funds in the kitty, the company plans to expand into new markets across Southeast Asia starting with Singapore.

RBF is a fairly new kind of an alternative investment model wherein a company raises capital from an investor based on a data-driven projection of its future revenues. The model doesn’t require founders to dilute equity and/ or control in their business nor does it asks its founders to put up collateral or personal guarantees. The investor recovers the amount invested as a share of the business’ future revenues. That amount typically includes the principal amount plus a flat fee.

Based out of Mumbai, GetVantage, is India’s first and only fully operational smart alternative funding platform for business-owners to raise growth capital without diluting ownership, and for investors to now fuel India’s growth story more sustainably.

“The traditional process of raising capital is complex, cumbersome, and simply doesn’t work for all enterprises and business owners. As a result, India’s burgeoning young entrepreneurs and their digital-first businesses continue to be highly underserved,” Vasa said in a statement.

He further added that RBF can be a gamechanger for the Indian start-up and digital enterprise ecosystem and that the idea was born out of the realization that new economy (online) businesses need a fresh financing solution that’s a native of the digital economy, and designed to work for founders and entrepreneurs by aligning with their mission and values, instead of against them.

This alternate funding model is already gaining significant traction in foreign markets, with firms like Clearbanc, Lighter Capital, and RevUp Capital leading the way in reshaping how digital-first brands are fundraising.

Anuj Golecha, Founder, Samyakth Capital & co-founder Venture Catalyst says, “Financing is entering an interesting phase and there is an urgent need to democratize the fundraising process. We’re excited to be at an inflection point of a new asset class getting structured in the form of Revenue-Based Financing.” The funding through RBF is data-driven based and all that founders need to do is pay one flat fee- recovered as small shares of a business’ future revenues.

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