GetVantage, a pioneering alternative-financing fintech platform, has unveiled its latest initiative – the Rise-Up Fund, dedicated to bolstering women entrepreneurs’ businesses with substantial capital support. With an initial infusion of Rs 100 crore, this non-dilutive fund is poised to make significant strides in fostering gender diversity and entrepreneurial empowerment.
The Rise-Up Fund, spearheaded by GetVantage, marks a pivotal step towards addressing the longstanding disparity in access to capital women-led businesses face. With a mission to empower and enable, this fund aims to deploy its substantial corpus within the next 12 months, propelling the growth trajectories of women entrepreneurs across diverse sectors.
Founded in 2020 by Bhavik Vasa, GetVantage is at the forefront of the alternative funding landscape. It offers a marketplace and growth platform designed to provide non-dilutive capital to SMEs. Through data-driven investments ranging from Rs 5 lakhs to Rs 20 crore, GetVantage empowers businesses to scale their operations and realize their full potential.
To amplify its impact, GetVantage has partnered with Encubay, a diversity-focused network committed to fostering inclusive entrepreneurship. This collaboration underscores the collective resolve to create a thriving ecosystem where women entrepreneurs can thrive.
Through its NBFC arm, GetGrowth Capital, and strategic partnerships, including Varanium’s Debt Fund, GetVantage is well-positioned to efficiently disburse funds to deserving enterprises. The recent announcement follows hot on the heels of its SaaS Accelerator Fund II, boasting a corpus of Rs 250 crore, indicative of the platform’s unwavering commitment to fueling growth and innovation.
GetVantage’s holistic approach extends beyond mere capital infusion, offering a gamut of non-dilutive working capital solutions tailored to businesses’ specific needs. From marketing to inventory management, logistics, and beyond, the platform caters to a diverse array of sectors, including B2B SaaS, eCommerce, D2C, edtech, and cloud kitchens.
With over 15,000 signups and investments in more than 850 new-age businesses in India, GetVantage has emerged as a hope for aspiring entrepreneurs. Notably, the platform’s collaboration with leap.club in 2023 underscores its commitment to fostering community engagement and nurturing meaningful connections within the entrepreneurial ecosystem.
Despite the burgeoning potential of women-led businesses in India, the persistent credit gap underscores the urgent need for concerted action. According to a World Economic Forum and IFC report, women entrepreneurs face a staggering unmet credit gap exceeding $11.4 billion, with a mere 5.2% of outstanding credit granted to enterprises by Indian public sector banks reaching women founders.
In the wake of these sobering statistics, GetVantage’s Rise-Up Fund assumes greater significance, heralding a new era of inclusivity, opportunity, and empowerment for women entrepreneurs. As the platform continues championing diversity and driving meaningful change, the path towards a more equitable and prosperous entrepreneurial landscape beckons us forward.
