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GetVantage, an alternative finance fintech platform, has announced the launch of RiseUp Fund with an initial capital of Rs 100 crore, dedicated to supporting women entrepreneurs’ businesses with comprehensive funding.
The fund aims to use the money to support the expansion of more than 400 women-owned businesses over the next 12 months.
The funds will be distributed by GetVantage through its own NBFC, GetGrowth Capital, in collaboration with Varanium’s debt fund and other NBFCs and AIFs.
GetVantage in January announced SaaS Accelerator Fund II with a corpus of Rs 250 crore.
“Despite running successful businesses, women entrepreneurs everywhere are chronically underrepresented and underserved by the existing venture finance infrastructure,” said Karun Arya, chief growth officer at GetVantage. “The Rise-Up Fund by GetVantage expands on our commitment to empowering women entrepreneurs in India.”
Founded in 2020 by Bhavik Vasa and Amit Srivastava, GetVantage is a non-dilutive capital provider for small and medium-sized enterprises, serving as an alternative funding marketplace and growth platform. The platform enables companies to scale their growth with data-driven investments ranging from Rs 500,000 crore to Rs 200,000 crore.
The platform claims to have over 15,000 registered users and its investment portfolio includes over 850 innovative new-age companies in India.
According to the company, more than 40% of GetVantage’s portfolio is led by women entrepreneurs, including Capsul, Open Secret, Samosa Singh, Hyugalife, Ziniosa, MyMuse, EatBetter, The Ayurveda Co., Noto, The Indus Valley, sweet karam coffee.
With support from investors including Chiratae Ventures, Varanium, InCred, DMI, Sony, and Dream Incubator, the company has raised approximately USD 41 million in two funding rounds (equity and line of credit).
To foster greater participation of women entrepreneurs in India, GetVantage previously collaborated with women-only community Leap.club in 2023.
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