Mumbai-based GetVantage, a fintech platform revolutionizing venture finance, recorded a 37.4% revenue growth in FY24, reaching Rs 15.36 crore, up from Rs 11.18 crore in FY23. Founded in 2019 by Bhavik Vasa and Amit Srivastava, GetVantage provides non-dilutive growth capital ranging from Rs 2 lakh to Rs 20 crore to eCommerce entrepreneurs, MSMEs, and SaaS businesses within 7 days.
The company specializes in equity-free financing, leveraging a proprietary data-driven platform that analyzes revenue history and projections to offer accessible, transparent, and bias-free funding. With over 1,600 businesses across 25+ sectors in its portfolio, GetVantage aims to empower India’s growth story through democratized access to working capital.
Expenses rose by 29.4% in FY24, totalling Rs 24.50 crore compared to Rs 18.94 crore in FY23. Losses widened to Rs 9.07 crore in FY24, up from Rs 7.74 crore in FY23. Despite this, GetVantage improved its EBITDA margin to -53.10% in FY24 from -68.44% in FY23, reflecting better cost efficiency. However, ROCE slipped to -18.86% in FY24 from -15.64% in FY23.
Employee benefit costs rose significantly, accounting for 49.06% of expenses in FY24, up from 35.30% in FY23. Meanwhile, advertising costs declined to 5.31% of expenses in FY24 from 7.65% in FY23. Finance costs increased to 3.22% in FY24 from 0.10% in FY23, reflecting higher borrowing to support growth.
GetVantage has raised Rs 320.11 crore over four funding rounds, with the latest debt financing round completed in June 2022. The company’s shareholding is led by Bhavik Vasa (40.67%) and Amit Srivastava (4.60%), with Venture Catalysts holding 6.10%.