The company said Bounce Back Capital, a first-of-its-kind initiative, 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.
“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, GetVantage
The company provides founders anywhere between Rs 20 lakh and Rs 2 crore of non-dilutive growth capital compared to traditional funding sources, that mostly require business owners to dilute equity or give control via board seats, or warrants
In addition to quick and flexible capital, business-owners will also get access to real-time insights, various business optimization tools through a powerful partner ecosystem and the FoundersForFounders mentor and support platform.
According to the Festive Season Pulse 2021 survey by The Trade Desk and YouGov, nearly three in five Indian consumers are excited about the upcoming festival season sales with 91% planning to make a purchase during this time.
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Business-owners can get up to $500,000 within a week and it will not just include digital-first brands but also traditional SMEs. “The demand for more quick, non-dilutive capital options is at an all time high and will continue to trend upward as the digital-economy grows exponentially,” said Arjun Vaidya, Ventures Lead – India, Verlinvest, CEO of Dr. Vaidya’s (acquired) and FoundersForFounders member.
In the last 9 months, GetVantage has funded over 100 digital brands and SMEs across 20 sectors and is on track to fund more than 250 brands in the next 9 months. According to research by Avendus Capital, the Indian D2C market is expected to grow at 25% CAGR from $44.6 billion in FY21 to $100 billion by FY25, thus providing ample opportunity to GetVantage in making that growth.
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