Ahead of the festive season, revenue-based finance major GetVantage has launched Bounce Back Capital, an initiative aimed to ensure quick funding for both early-stage ventures and traditional players from the small and medium enterprises (SMEs) space as well.
As part of the initiative, GetVantage has created an initial corpus of $5 million with an aim of lending an amount of up to $500,000 per venture.
"Bounce Back Capital is the result of feedback from customers and ecosystem partners who have expressed a dire need for larger investment as they look to meet increased consumer demand heading into the festive season, the first in two years since the pandemic started," stated a release by GetVantage.
The Bounce Back initiative will come with benefits like quicker access to funding -- businesses can get money in just seven days -- while targeting more entities in terms of not just start-ups but also traditional SMEs.
In addition to the funding, business owners will also get access to real-time insights and various business optimisation tools through a partner ecosystem that includes AWS, Razorpay, Freshworks, Adyogi, First Economy and Zoho, among others, and also the 'FoundersForFounders' mentor and support platform.
"All businesses have been adversely affected because of the pandemic. Bounce Back Capital was designed to help business owners and brands quickly access the working capital they need to not just get back to business but bounce back stronger than ever," said Bhavik Vasa, Founder & CEO, GetVantage.
Interestingly, the last nine months have seen GetVantage funding over 100 digital brands and SMEs across 20 sectors. Further, it has a pipeline of over 1,500 businesses and is on track to fund over 250 brands in the next nine months.
This assumes significance as recent research from Avendus Capital has said the Indian direct to consumer or D2C market is expected to grow at 25 per cent CAGR from $44.6 billion in FY21 to $100 billion by FY25.
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