Mumbai-based fintech startup GetVantage has raised Rs 63 crore in a Collection A1 funding spherical comprising fairness and debt.

The spherical was led by banking veteran Rajeev Ahuja and investment agency SanRaj Group. Current investors Chiratae Ventures, Varanium Fintech Fund and VCMint additionally participated.

GetVantage stated the transaction will take its dedicated financing capability to greater than Rs 700 crore.

The startup plans to make use of the funding to increase its operations and scale its Capital Gateway, an API-based platform designed to attach small companies with financing suppliers.

The platform permits B2B ecommerce corporations, on-line marketplaces and logistics corporations to embed financing choices for retailers inside their ecosystems.

Based by Bhavik and Amit Srivastava, GetVantage stated it’s working to make Capital Gateway ‘AI-native’, with the goal of offering sooner, extra data-driven entry to working capital for micro, small and medium-sized enterprises.

The startup makes use of enterprise money flows, different knowledge and predictive analytics when assessing functions, fairly than relying solely on collateral and traditional credit score data.

Its financing merchandise embody revenue-based financing, time period loans, enterprise loans and service provider money advances designed across the working cycles of smaller corporations. It presents financing starting from Rs 2 lakh to Rs 20 crore and says its platform has supported greater than 2,000 companies.

GetVantage has additionally launched financing programmes aimed toward particular teams of companies. It launched a Rs 250 crore fund for B2B SaaS startups in January 2024, adopted by the Rs 100 crore Rise-Up Fund for women-led companies in March that yr.