GetVantage announces SaaS Accelerator Fund II with a corpus of Rs 250 Cr
It will disburse the funds over the next 12-18 months through GetVantage's licensed NBFC GetGrowth Capital, along with partnerships with SEBI-approved Varanium’s Debt Fund and other NBFCs and AIF funds.
Alternative-financing fintech platform GetVantage announced SaaS Accelerator Fund II, a Rs 250 crore fund to help B2B SaaS businesses scale without equity dilution.
It will disburse the funds over the next 12-18 months through GetVantage's licensed NBFC GetGrowth Capital, along with partnerships with SEBI-approved Varanium’s Debt Fund and other NBFCs and AIF funds.
This Fund II is an extension to GetVantage’s SaaS Accelerator Fund I launched in 2022 with a corpus of about Rs 65 crore.
The company said it has fully deployed this original corpus and has earmarked nearly 4X the amount for this follow-on fund, given the increasing interest from hundreds of SaaS founders over the past 12-18 months.
"GetVantage first launched its pioneering SaaS Runway Capital product in 2022 and has since been actively involved as a preferred funding partner to SaaS founders in India even during the Silicon Valley Bank crisis early last year, where SaaS was one of the primary sectors to get impacted," it said in a statement.
Founded in 2020 by Bhavik Vasa and Amit Srivastava, Mumbai-based GetVantage is a cashflow-based financing platform. It secured an NBFC license earlier last year and claims to have facilitated equity-free funding for over 750+ companies across 20+ sectors.
It is backed by investors like Chiratae Ventures, Varanium, InCred, DMI, Sony, and Dream Incubator, and has raised about $41 million (equity and credit lines) across two funding rounds.
“We look forward to supporting more high-potential homegrown SaaS companies with recurring-revenue financing designed to help them scale without diluting equity, ownership, or control," Karun Arya, Chief Growth Officer, GetVantage, said.
Edited by Suman Singh
