GetVantage launches Rs 100Cr 'Rise-Up Fund' for women entrepreneurs

GetVantage, an alternative-financing fintech startup, has unveiled its 'Rise-Up Fund' with the aim of empowering women entrepreneurs. With a substantial corpus of Rs 100 crore, this non-dilutive fund is set to support over 400 women-led businesses, providing them with the necessary capital to scale up their operations.

The fund will be disbursed through GetVantage's NBFC, GetGrowth Capital, in collaboration with Varanium’s Debt Fund and other partners.

A strategic partnership for empowerment

In an effort to amplify its impact, GetVantage has joined forces with Encubay, a diversity-focused network. The partnership is poised to leverage Encubay's extensive network of female founders, offering them fair, inclusive, and unbiased access to non-dilutive funding.

“Despite running successful businesses, women entrepreneurs everywhere remain chronically underrepresented and underserved by the incumbent venture finance infrastructure. The Rise-Up fund by GetVantage expands our commitment to empowering women entrepreneurs in India,” said Karun Arya, Chief Growth Officer, GetVantage. 

The funding gap

Despite the success and potential of women-led businesses, they continue to face a significant funding gap. A report by Encubay highlights that out of 799 funding deals worth $6.6 billion over the last nine months, ventures with female founders secured only 4.5% of the total funding.

With women-founded businesses comprising only 18% of the Indian startup ecosystem, initiatives like the Rise-Up Fund are vital. They not only address the immediate financial needs of women entrepreneurs but also contribute to a cultural shift towards greater gender equality in business.