Funding Alert

GetVantage Launches INR 100 Cr Rise-Up Fund to Empower Women Entrepreneurs in India

• ByStartupStory     |    March 8, 2024

GetVantage, India’s leading alternative-financing fintech platform, has unveiled its Rise-Up Fund, dedicated to supporting women entrepreneurs with inclusive capital. The non-dilutive fund, starting with an initial corpus of INR 100 crore, aims to deploy capital over the next 12 months to assist more than 400 women-led businesses in scaling up.

The funds will be disbursed through GetGrowth Capital, GetVantage’s NBFC, in collaboration with Varanium’s Debt Fund partnership and other NBFCs and AIFs.

Karun Arya, Chief Growth Officer at GetVantage, emphasizes, “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.”

Deeksha Ahuja, Founder of Encubay, notes, “Ventures led by female founders secured only 4.5% of the total funding in the past nine months. Collaborating with GetVantage, we are enthusiastic to help lead the effort to dismantle barriers and level the playing field for women entrepreneurs across India.”

Meher Taff, co-Founder of natch snacks, praises GetVantage for bridging critical funding gaps, saying, “Initiatives like this are important to help bridge critical funding gaps in the ecosystem for entrepreneurs regardless of gender.”

Richa Pendake, Founder & CEO of Nutrizoe, shares, “GetVantage’s commitment to empowering women like myself resonates deeply with me. Initiatives like this not only bridge the funding gap but also foster a more inclusive and diverse entrepreneurial ecosystem, ultimately driving innovation and progress.”

Despite women-founded businesses constituting only 18% of the Indian startup ecosystem, India boasts 17 Unicorns with women-led businesses, valued at $30 billion+. GetVantage, in collaboration with various stakeholders, aims to create a favorable and equitable environment for women founders, with initiatives like the Rise-Up Fund.

In January, GetVantage announced the SaaS Accelerator Fund II with a corpus of INR 250 crore, further solidifying its commitment to fostering entrepreneurship in India.

 

 

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