Introduction:

Starting a new business can be challenging in the competitive marketplace that has hundreds of startups. Entrepreneurs frequently have difficulty getting the cash they need to scale their business without significant delays. Traditional banks want collateral and a lot of paperwork and investors want a big share of the company. That’s where GetVantage comes into the picture.

This Mumbai-based company is making waves in the industry with its revenue-based financing. It’s simple and fair financing gives businesses the freedom to borrow money based on their sales, but without sacrificing ownership. The firms need to pay back only a small part of their revenue over time. In this article, we will look into how the two founders, Bhavik and Amit, have developed GetVantage, as well as altered the way SMEs operate in India with their platform.

Meet the brains behind GetVantage

Bhavik Vasa and Amit Srivastava are the co-founders and minds behind India’s top platform for revenue-based financing. Bhavik grew up in Mumbai and has a background in finance. He worked as the Chief Growth Officer at the popular Indian finance company, ItzCash. While working there, he learned how traditional lending often ignores small businesses. 

Bhavik realized how many startups were not able to get funds from banks because they were either new or lacked assets to pledge. From there, he realized the need for a fast and flexible way that didn’t trap entrepreneurs in debt or force them to give up ownership. Bhavik noticed the ad for the equity model, where companies trade advertising space for investment. 

Amit Srivastava is another brain behind this revenue-based financing platform.  He is a fintech veteran with years of experience in investment and technology. Bhavik and Amit came together to tackle the problems ignored by the traditional banks. While Bhavik worked on growth and the company’s vision, Amit focused on operations and development of the tech platform. 

GetVantage was officially launched in 2019. This was also the year when India’s startup ecosystem was booming with digital and e-commerce startups. They aimed to create a platform to provide a better funding alternative than traditional banks. GetVantage offers small and medium businesses a fair, fast, and user-friendly platform for funding. 

Early days: The journey of GetVantage

India has millions of small and medium enterprises, but most struggle to get loans. Banks prefer to help big companies with steady profits, and venture capital is risky, as founders often end up losing control over the startup. Bhavik saw this gap during his time at ItzCash. He realized that many businesses have steady sales but need quick cash for things like marketing or inventory.

This was the time when he got interested in RBF. This method was already popular in developed countries like the US. The method was beneficial for startups as it lent money based on the business’s future sales and potential. Instead of fixed monthly payments, the customer has to pay in small percentage of their daily or monthly revenue. 

If sales are down, payments are lower; if they get a good profit, payment moves faster. In this manner, equity is not given up, and founders retain full ownership. Both founders began small, with their own savings and network. The aim was to support online businesses like D2C brands and e-commerce stores to scale without capital concerns.

Growth and Impact

GetVantage is growing quickly, and they have already funded many D2C brands. The company also committed Rs 550 crore in a partnership with Velocity for SaaS startups. They’ve helped thousands of businesses, including women-led startups. They’ve also funded companies fighting climate change, like electric vehicle chargers. 

In 2023, NITI Aayog proposed including RBF in national policies. The company now has a strong team and uses AI and data to make smart decisions. RBF is redefining venture finance in India. GetVantage has funded underserved sectors while creating more employment opportunities and boosting India’s economy. 

The future and road ahead:

GetVantage’s future looks promising with their plan to fund more businesses while focusing on innovation. The firm wants to integrate loans into e-commerce platforms. The Indian startup ecosystem is continuously growing, and RBF can easily become mainstream. The founders mentioned that GetVantage was built to help founders unlock untapped opportunities. The company plans to educate more entrepreneurs through its partnerships and programs. 

Overcoming challenges

It was not an easy start, and they had to build everything right from scratch. One of the major challenges was to raise the initial funding. GetVantage raised $5 million from investors in its 2020 seed funding round. It allowed them to beta test their new model, bring on a team of fintech experts, and expand networks.

Just as the business was about to hit the big time, the COVID-19 pandemic ruined everything. Many companies closed up shop, and traditional loans dried up; RBF, meanwhile, adjusted to fluctuations in revenue. GetVantage pivoted to help small businesses by providing equity-free funding from $10k to $500k. 

Another challenge was the regulations and approval from the Reserve Bank of India. The firm got an NBFC license in 2023, allowing it to lend directly and expand its network. They also teamed up with various firms like IP Ventures to invest Rs 200 crore in 500 businesses. 

Conclusion:

GetVantage is leading the way for revenue-based financing in India. The firm proves that the funding process does not have to be complicated and unfair. GetVantage’s journey shows how two founders found a gap in the industry and built a solution. The article mentioned GetVantage’s journey from a simple idea in 2019 to India’s leading RBF platform. 

They’ve changed how small and medium-sized businesses get funded. The company removed the need for endless bank visits. It also solved the problem of giving away equity by replacing these processes with its fair and flexible solutions. GetVantage uses tools like RBF to help small businesses turn their ideas into reality. The company empowers the next wave of entrepreneurs.

FAQs:

What is GetVantage?

A fintech platform that provides growth capital to businesses by advancing cash today and recovering it as a share of future revenue, instead of taking equity or charging fixed EMIs.

What is revenue-based financing (RBF)?

A loan model where repayment is a fixed percentage of a company’s revenue until the agreed amount (plus fee) is repaid — payments rise and fall with sales.

Who started GetVantage?

GetVantage was founded by entrepreneurs who built the company to offer flexible, non-dilutive capital to digital-first businesses. Founders are Bhavik Vasa and Amit Srivastava.

Which types of businesses use GetVantage?

Typically, D2C brands, subscription services, SaaS firms, and other online businesses with measurable, recurring sales.

How does GetVantage decide who gets funding?

They use data connecting to sales, payment, and ad accounts and models that estimate future revenue to underwrite deals quickly and based on real performance.

How are repayments structured?

Borrowers agree to pay a fixed percentage of their revenue each period until the advance plus an agreed fee is fully repaid; there are no equity stakes.

What are the main benefits for founders?

Speed of funding, no equity dilution, flexible repayments tied to cash flow, and the ability to finance marketing or inventory spikes quickly.

What risks should founders know about?

If revenue falls, repayments extend, and the cost of capital can rise, founders should read the terms carefully and ensure the deal aligns with cash-flow forecasts.

How does GetVantage fund the money it lends?

Platforms like this raise capital from institutional investors, debt markets, or their own lending entities to pool funds they can deploy to clients.

How do I apply or learn more?

Visit the company’s website or contact their team to check eligibility. Typically, you’ll need basic business documents and access to your sales/payment dashboards for fast assessment.