GetVantage, alternative financing fintech platform on Thursday secures a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI), according to media reports.
GetGrowth Capital, the NBFC arm of GetVantage, will run the lending operations.
GetVantage, which is backed by investors including Chiratae Ventures, Varanium, InCred, DMI, and Japanese Investors like Sony and DI, will capitalise the NBFC with Rs 50 crore and aims to raise Rs 200 crore in total to scale up its lending operations.
According to industry estimates, the working capital opportunity for SMEs in India is estimated to be over USD 300 billion. With this license, GetVantage strengthens its position as India’s premier alternative financing platform.
