GetVantage, an alternate financing fintech platform, stated it had secured a non-banking monetary firm (NBFC) licence from the Reserve Bank of India (RBI), and its NBFC arm GetGrowth Capital would run the lending operations.
GetVantage, which is backed by traders together with Chiratae Ventures, Varanium, InCred, DMI, and Japanese traders like Sony and DI, will capitalise the NBFC with ₹50 crore and goals to lift ₹200 crore in whole to scale up its lending operations.
“The NBFC licence reinforces our commitment to providing innovative and accessible financing solutions to the emerging SME sector in India,” stated Bhavik Vasa, founder & CEO of GetVantage. “This milestone will enable us to accelerate our growth trajectory, expand our reach and offer more value to our customers,” he added.
