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GetVantage backs cleantech companies with US $5 million

GetVantage backs cleantech companies with US$ 5 mn non dilutive capital on its marketplace

Electric Vehicle

GetVantage backs cleantech companies with US $5 million

GetVantage, India’s leading Revenue-Based Financing (RBF) and growth platform for founders, has firmly established itself as a preferred alternative funding platform for Cleantech businesses with companies like BluSmart, ChargeZone, EMotorad, Buyofuel, and Verve Renewables raising over US$ 5 million (INR 40 crore) via its marketplace in the last quarter alone.

Founded in 2019 by Bhavik Vasa and Amit Srivastava, GetVantage continues to lead the alternative finance (alt-Fi) movement in India. The company has amassed a sizable portfolio of over 400 new-age businesses while diversifying into more sectors this year including B2B SaaS and Cleantech.

Moreover, GetVantage has identified Cleantech as a priority sector and expects to significantly step up its focus on connecting more entrepreneurs at the cutting edge of EVs, climate-tech, and other green tech solutions with founder-friendly, equity-free funding options. According to International Energy Agency, the size of the global market for cleantech will rise from $122 billion (as of 2022) to $870 billion by 2030, as more consumers transition to sustainable solutions.

Bhavik Vasa, Founder & CEO, GetVantage shares “We’re seeing a paradigm shift as consumers look to make smarter choices and minimize their carbon footprint. At GetVantage, we are happy to support companies like BluSmart, ChargeZone, and EMotoradthat are at the forefront of an important, growing industry. We firmly believe that 2023 will be a breakout year for Cleantechbusinesses. Hundreds of entrepreneurs are designing the future of sustainable urban mobility in their quest to build a more sustainable future for all. GetVantge is excited to support founders in the EV, climate-tech, and broader green-tech space with similarly sustainable funding options that are designed for environmentally conscious businesses.”

BluSmart is India’s first all-electric shared smart mobility platform that has raised a $25 million Series A round led by BP Ventures in the past. ChargeZone is a tech-driven EV charging infrastructure, enabling an unmanned EV charging experience for the end EV user, while EMotorad is an electric vehicle company facilitating futuristic e-bikes. On the other hand, Buyofuel is an online marketplace that facilitates buying and selling of green fuel, and Verve Renewables collects and converts farm stubble into electricity. All these companies turned to the GetVantage platform to supercharge growth via revenue-based financing as it allowed them to access the growth capital they needed without diluting equity.

Punit Goyal, Co-Founder, BluSmart said, “BluSmart is super excited to partner with GetVantage on our mission to decarbonize mobility in India for a better future. BluSmart operates one of the largest fully-electric ride-hailing fleets in the world of 3000 BluSmart EVs and one of the largest EV Charging Superhub infrastructures (with 2000+ BluSmart EV charging stations). The support of incredible funding partners like GetVantage is invaluable as it allows us to focus on growth and not have to worry about fundraising. With all the talk about a funding winter, it was incredibly refreshing to secure funding through the GetVantage platform in a manner that was quick, frictionless, and hassle-free. The best part is we didn’t have to dilute any equity.”

GetVantage is on track to scale up its capital gateway and marketplace by 20x in 2023 and is looking to partner with many more companies across the Cleantech space (EVs, Battery tech, climate-tech, renewables, and more). The company works with licensed Banks and NBFCs to provide various equity-free debt financing options to new-age businesses using a data-driven approach that enables funding up to INR 10 crores in as fast as 7 days.

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