GetVantage secures NBFC licence from RBI
GetVantage, a fintech platform offering alternative financing solutions, has obtained an NBFC licence from the Reserve Bank of India (RBI). Its lending operations will be managed by its NBFC subsidiary, GetGrowth Capital. The platform plans to raise a total of ₹200 crore to expand its lending operations, with ₹50 crore already invested by backers such as Chiratae Ventures, InCred and Sony and DI.
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The company has set its sights on disbursing over INR 500 crore annually in short-term working capital finance and providing funding to 1,000+ emerging SMEs across India within the next 18 months.
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