For this, GetVantage has its own licensed NBFC GetGrowth Capital, along with partnerships with Varanium’s Debt Fund, and other leading NBFCs and AIF funds. The company said it has fully deployed the original corpus and has earmarked nearly four times the amount for this follow-on fund given the inbound interest from hundreds of SaaS founders over the past 12-18 months.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
| MIT | MIT Technology Leadership and Innovation | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
“We look forward to supporting more high-potential home-grown SaaS companies with recurring-revenue financing designed to help them scale without diluting equity, ownership, or control. With the Indian SaaS market expected to bring in $20-25 bn in the next two years, GetVantage is well positioned to become an invaluable long-term growth partner for like-minded founders who are looking to innovate, scale, and grow sustainably,” said Karun Arya, chief growth officer, GetVantage.
SaaS is one of the few sectors that continues to see strong two-and-a-half times growth despite weak economic headwinds. Also, the space witnessed 96% of unicorns and soonicorns hiring extensively, indicating significant growth in the workforce and the businesses.
In the last couple of years, SaaS businesses have learned to operate efficiently, increasing their scope of profitability and higher gross margins, anywhere around 67%. Alternative Financing (Alt-Fi) platforms aid in boosting these parameters for SaaS businesses.
Venkatesh Peddi, managing director and partner, Chiratae Ventures, said, “The resilience and adaptability of the Indian SaaS industry has positioned it for remarkable growth over the next few years, with a potential surpassing $25 billion by 2026. The recurring nature of revenues and category of digital expenditures present an ideal opportunity for GetVantage to expand its offerings and support for SaaS founders with their SaaS Accelerator Fund II.”
Discover the stories of your interest
The Indian SaaS market is projected to reach $50 billion of ARR (annual recurring revenue) by 2030, growing multiple-fold. This inflection point is a crucial stage for SaaS businesses in the country as the brands are not only receiving more interest, but even the corporate mindset is widening, opening doors for many SaaS platforms to build and innovate.GetVantage, the first alternative financing platform to secure an NBFC license earlier this year, has facilitated equity-free funding for over 750 companies across 20 sectors.