India-based GetVantage said to close $5m seed round

Revenue-based financing platform GetVantage has reportedly closed $5m in its seed funding round, which will help it to expand into new markets across Southeast Asia.

The capital injection was supported by Chiratae Ventures, Dream Incubators and other investors, according to a report from inc42.

Funds from the round will be used to expand into new markets across Southeast Asia, and will start with Singapore.

The India-based FinTech company enables businesses to get access no interest funding, in exchange for shares within the company.

GetVantage founder Bhavik Vasa told Inc42, ?We created GetVantage with the simple mission to reimagine venture finance for India online brands and startups that are clamouring for a smarter, fair, and frictionless funding alternative.

?As consumers have shifted online, more companies are looking at how they can take advantage of this digital-shift and the vast economic opportunities that come with it.p>

Earlier this year, the FinTech raised an undisclosed pre-seed round from backers including Samyakth Capital, Venture Catalysts, Astir Ventures and angel investors.

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