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GetVantage Unveils INR 250 Crore SaaS Accelerator Fund II to Propel Growth of B2B SaaS Businesses

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GetVantage, the country’s premier alternative-financing fintech platform, has announced the launch of its SaaS Accelerator Fund II. The INR 250 crore fund is an expansion of GetVantage’s earlier SaaS Accelerator Fund I, which was rolled out in 2022 with an initial corpus of approximately INR 65 crore. This initiative is aimed at providing substantial support to B2B SaaS businesses seeking to scale without compromising equity.

The SaaS Accelerator Fund II is powered by GetVantage’s licensed NBFC, GetGrowth Capital, in collaboration with Varanium’s Debt Fund (SEBI approved), and other leading NBFCs and AIF funds. Having redirected its focus towards the B2B SaaS sector 18 months ago, GetVantage has successfully deployed the original INR 65 crore and is now allocating nearly 4 times that amount for the follow-on fund due to the overwhelming interest from numerous SaaS founders over the past year.

Over the next 12-18 months, the SaaS Accelerator Fund II is poised to deploy INR 250 crore, providing fast, fair, and non-dilutive capital to SaaS founders, facilitating the acceleration of their businesses. GetVantage, having introduced its innovative SaaS Runway Capital product in 2022, has been actively engaged as a preferred funding partner to SaaS founders in India, even during challenging times such as the Silicon Valley Bank crisis last year.

Karun Arya, Chief Growth Officer at GetVantage, expressed enthusiasm about supporting high-potential Indian SaaS companies, stating, “We look forward to supporting more high-potential home-grown SaaS companies with recurring-revenue financing designed to help them scale without diluting equity, ownership, or control.”

Despite economic challenges, the B2B SaaS sector has demonstrated robust 2.5X YoY growth. The industry also saw an impressive 96% of unicorns and soonicorns actively hiring, indicating substantial growth in both workforce and businesses.

Venture capitalist Venkatesh Peddi, Managing Director & Partner at Chiratae Ventures, acknowledged the potential of the Indian SaaS industry, stating, “The resilience and adaptability of the Indian SaaS industry have positioned it for remarkable growth over the next few years, with a potential surpassing $25 billion by 2026.”

Shiyam Sundar, Founder of Tripledart, lauded GetVantage’s initiative, calling it a “remarkable opportunity for founders seeking a capital infusion without relinquishing equity.” Sundar highlighted the significance of alternative financial solutions like this in the evolving market landscape.

The Indian SaaS market is projected to achieve $50 billion in Annual Recurring Revenue (ARR) by 2030, signifying a pivotal stage for SaaS businesses in the country. GetVantage’s SaaS Accelerator Fund II is poised to play a crucial role in supporting and propelling the growth of SaaS platforms as they navigate this dynamic landscape.