GetVantage, a top revenue-based financing (RBF) and growth platform for founders, has identified Cleantech as a priority industry and anticipates intensifying its efforts to connect more business owners with founder-friendly, equity-free funding options in the fields of EVs, climate-tech, and other green tech solutions.
Businesses in the Cleantech sector, including BluSmart, ChargeZone, EMotorad, Buyofuel, and Verve Renewables, raised more than $5 million (about Rs. 40 crore) through the marketplace of the alternative fundraising platform in the most recent quarter alone.
GetVantage, a company founded in 2019 by Bhavik Vasa and Amit Srivastava, has acquired a sizable portfolio of more than 400 startups while diversifying into new industries this year, such as B2B SaaS and Cleantech.
This is significant because, according to the International Energy Agency, as more customers switch to sustainable solutions, the size of the global cleantech sector will increase from its current $122 billion to $870 billion by 2030.
The first fully electric shared smart transportation platform in India, BluSmart, raised $25 million in a Series A round that was co-led by BP Ventures in the past. While EMotorad is an electric vehicle firm that supports futuristic e-bikes, ChargeZone is a tech-driven electric vehicle charging infrastructure that provides an unmanned EV charging experience for the end user.
Additionally, Verve Renewables collects and turns agricultural waste into electricity, and Buyofuel is an online marketplace that makes it easier to buy and sell green fuel.
Because the GetVantage platform allowed all of these businesses to acquire the expansion money they required without diluting stock, they all used it for revenue-based financing.
GetVantage is aiming to work with a lot more businesses in the Cleantech sector and is on target to expand up its financing gateway and marketplace by 20x in 2023. (EVs, Battery tech, climate-tech, renewables, and more).
The business collaborates with authorised banks and NBFCs to offer new-age enterprises a variety of equity-free debt financing solutions utilising a data-driven methodology that allows funding up to Rs. 10 crore in as little as seven days.