Getvantage Secures NBFC Licence From RBI

Getvantage Secures NBFC Licence From RBI

GetVantage secures NBFC licence

GetVantage, a fintech platform offering alternative financing solutions, has obtained an NBFC licence from the Reserve Bank of India (RBI). Its lending operations will be managed by its NBFC subsidiary, GetGrowth Capital. The platform intends to raise a total of 200 crore to grow its lending operations, with 50 crore already invested by investors like Chiratae Ventures, InCred, Sony, and DI.

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GetVantage secures NBFC licence: Key Points • Founder and CEO Bhavik Vasa said the licence “reinforces our commitment to providing innovative and accessible financing solutions to the emerging SME sector in India.” • The addition of NBFC will not only enhance the revenue pipeline of the three-year-old FinTech but also allow the co-investment feature with other financial institutions such as banks, NBFCs, and debt funds. Moreover, it will enable GetVantage to serve clients directly instead of solely operating as a loan service provider (LSP). • GetVantage has become part of a limited number of fintech companies that have obtained an NBFC licence. • GetVantage wants to inject INR 50 crore into its NBFC and secure a total of INR 200 crore in funding from investors including Chiratae Ventures, Varanium, InCred, DMI, and Japanese investors Sony and DI. The company has set its sights on disbursing over INR 500 crore annually in short-term working capital finance and providing funding to 1,000+ emerging SMEs across India within the next 18 months.

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