GetVantage launches Rs 250Cr SaaS accelerator fund II for B2B SaaS startups

GetVantage, an alternative financing platform, has announced the launch of its SaaS Accelerator Fund II. The new fund, amounting to Rs 250 crore, is designed to assist B2B SaaS businesses in scaling up without the need for equity dilution.

It follows the successful deployment of the firm's first SaaS Accelerator Fund I, which was launched in 2022 with a corpus of approximately Rs 65 crore.

The role of GetVantage and partnerships

GetVantage operates through its licensed NBFC, GetGrowth Capital, and has formed strategic partnerships with entities like Varanium's Debt Fund, other leading NBFCs, and AIF funds. 

According to the firm's statement, the collaborations have been pivotal in providing financial support to startups, particularly in the B2B SaaS sector. Over the past 18 months, GetVantage has focused on this sector, responding to the significant interest from numerous SaaS founders.

Impact on the SaaS sector

The SaaS sector, despite facing economic challenges, continues to exhibit robust growth, with a 2.5X year-over-year increase. The sector has seen substantial hiring among unicorns and unicorns, indicating a surge in both workforce and business expansion. The Indian SaaS market is expected to reach an impressive $50 billion in Annual Recurring Revenue (ARR) by 2030.

Empowering SaaS startups

Speaking of the fund, Karun Arya, chief growth officer of GetVantage, said that the Indian SaaS market is expected to clock $20 billion to $25 billion in the next two years.

“GetVantage’s SaaS Runway Capital product, launched in 2022 and proven over 18 months, helps SaaS founders supercharge their ARR before their next equity raise. We look forward to supporting more high-potential home-grown SaaS companies with recurring-revenue financing designed to help them scale without diluting equity, ownership, or control,” he added.

Venkatesh Peddi, managing director and partner of Chiratae Ventures, said, “The resilience and adaptability of the Indian SaaS industry have positioned it for remarkable growth over the next few years, with a potential surpassing $25 billion by 2026. The recurring nature of revenues and category of digital expenditures present an ideal opportunity for GetVantage to expand its offerings and support for SaaS founders with their SaaS Accelerator Fund II.”

What does GetVantage do? 

Founded in 2020 by Bhavik Vasa and Amit Srivastava, Mumbai-based GetVantage is a cashflow-based financing platform that has facilitated equity-free funding for over 750 companies across more than 20 sectors. It has raised about $41 million across two funding rounds and is backed by notable investors like Chiratae Ventures, Varanium, InCred, DMI, Sony, and Dream Incubator.

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