Cleantech ventures like BluSmart, ChargeZone, others avail revenue finance for growth

GetVantage, a leading revenue-based financing (RBF) and growth platform for founders, has identified Cleantech as a priority sector and expects to significantly step up its focus on connecting more entrepreneurs in the electric vehicles (EVs), climate-tech, and other green tech solutions arena with founder-friendly, equity-free funding options. 

The alternative funding platform saw Cleantech businesses like BluSmart, ChargeZone, EMotorad, Buyofuel, and Verve Renewables raising over $5 million (₹40 crore) through its marketplace in the last quarter alone. 

Founded in 2019 by Bhavik Vasa and Amit Srivastava, GetVantage has amassed a sizeable portfolio of over 400 new-age businesses while diversifying into more sectors this year including B2B SaaS and Cleantech. 

This assumes significance as according to the International Energy Agency, the size of the global market for cleantech will rise from the current $122 billion to $870 billion by 2030, as more consumers transition to sustainable solutions. 

“We’re seeing a paradigm shift as consumers look to make smarter choices and minimise their carbon footprint,” says Vasa. 

“At GetVantage, we are happy to support companies like BluSmart, ChargeZone, and EMotorad that are at the forefront of an important, growing industry. We firmly believe that 2023 will be a breakout year for Cleantech businesses. Hundreds of entrepreneurs are designing the future of sustainable urban mobility in their quest to build a more sustainable future for all,” he added. 

BluSmart is India’s first all-electric shared smart mobility platform that has raised a $25 million Series A round led by BP Ventures in the past. ChargeZone is a tech-driven EV charging infrastructure, enabling an unmanned EV charging experience for the end EV user, while EMotorad is an electric vehicle company facilitating futuristic e-bikes.  

Further, Buyofuel is an online marketplace that facilitates buying and selling of green fuel, and Verve Renewables collects and converts farm stubble into electricity.  

All these companies turned to the GetVantage platform for revenue-based financing as it allowed them to access the growth capital, they needed without diluting equity. 

“BluSmart operates one of the largest fully-electric ride-hailing fleets in the world of 3000 BluSmart EVs and one of the largest EV Charging Superhub infrastructures (with 2000+ BluSmart EV charging stations),” said Punit Goyal, Co-Founder, BluSmart. 

“The support of incredible funding partners like GetVantage is invaluable as it allows us to focus on growth and not have to worry about fundraising. The best part is we didn’t have to dilute any equity,” added Goyal. 

Meanwhile, GetVantage is on track to scale up its capital gateway and marketplace by 20x in 2023 and is looking to partner with many more companies across the Cleantech space (EVs, Battery tech, climate-tech, renewables, and more).  

The company works with licensed banks and NBFCs to provide various equity-free debt financing options to new-age businesses using a data-driven approach that enables funding up to ₹10 crore in as fast as seven days. 

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