GetVantage Launches Rise-Up Fund to Empower Women Entrepreneurs

GetVantage Empowering Female Entrepreneurs
Preeti Bali / 7:15 am / March 11, 2024

In celebration of International Women’s Day, GetVantage, a leading Indian alternative-financing platform, has unveiled the Rise-Up Fund. This initiative is specifically designed to support women-led businesses by providing them with access to vital financial resources.

Investing in Equality: A Non-Dilutive Approach

The Rise-Up Fund boasts an initial corpus of Rs 100 crore. GetVantage aims to deploy these funds within the next 12 months, empowering over 400 women-led businesses to scale their operations. Notably, this financing approach is non-dilutive, meaning it won’t require entrepreneurs to relinquish ownership stakes in their companies.

Multiple Funding Channels: Facilitating Growth

GetVantage will leverage a variety of channels to disburse these funds. This includes its own NBFC, GetGrowth Capital, along with partnerships established with Varanium’s Debt Fund, other NBFCs, and Alternative Investment Funds (AIFs).

Since its inception in 2019, GetVantage has championed fair and unbiased access to funding for entrepreneurs. The platform has facilitated access to capital for hundreds of female founders over the past three years.

Women Leading the Charge

GetVantage’s portfolio currently boasts over 800 businesses, with more than 40% being led by inspiring women entrepreneurs. These ventures span over 20 diverse sectors, including Capsul, Open Secret, Samosa Singh, Hyugalife, Ziniosa, MyMuse, EatBetter, The Ayurveda Co, Noto, The Indus Valley, and Sweet Karam Coffee.

A Gap in Opportunity

Data compiled by the World Economic Forum and the International Finance Corporation (IFC) reveals a significant unmet credit gap for women-led businesses in India. This gap is estimated to be over $11.4 billion. Furthermore, a recent report by Encubay underscores this disparity, indicating that women founders received only 4.5% of the total funding secured by startups over the past nine months.

Empowering Women Entrepreneurs

“Despite achieving success in their ventures, women entrepreneurs consistently face underrepresentation and inadequate support from traditional venture financing structures,” commented Karun Arya, Chief Growth Officer at GetVantage. “The Rise-Up Fund reinforces our dedication to empowering women-led businesses across India.”

Deeksha Ahuja, Founder of Encubay, echoed this sentiment. She emphasized the current moment as a critical time for collective action, given the increasing number of women venturing into entrepreneurship and seeking funding for their endeavors. “We are thrilled to collaborate with GetVantage in spearheading efforts to eliminate roadblocks and create a more equitable landscape for women entrepreneurs throughout India,” said Ahuja.

While women-founded businesses currently comprise only 18% of the Indian startup ecosystem, their impact is undeniable. India is home to 17 unicorns, valued at over $30 billion, with women at the helm. Additionally, another 20 such ventures are on the horizon.

Building on its commitment to women entrepreneurs, GetVantage previously partnered with Leap Club, an exclusive women’s community, in 2023. This collaboration fostered stronger connections, meaningful conversations, and growth opportunities by bringing together women founders, investors, and industry facilitators.

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