ETtechFood tech brand Charcoal Eats has raised Rs 1 crore in growth capital from revenue-based financing leader GetVantage, and will use the funds to expand its menu and spend on marketing in the next few months.
Launched in 2015, Charcoal Eats is a quick service restaurant (QSR) startup that claims to have served over 2 million orders since its inception. In November last year, the company had announced Rs 16 crore in funding.
As the leading revenue-based financing fintech platform in India, GetVantage has made over 150 investments in over 75 digital-first brands across sectors. 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.
“As a founders-first company we are passionate about empowering home-grown entrepreneurs with growth solutions powered by revenue-based financing. Charcoal Eats continues to raise the bar in the food tech space across India and we are thrilled to serve as their long-term growth partner in bringing better food to more plates across the country,” said Bhavik Vasa, founder, GetVantage that has also funded digital-first businesses including Rage Coffee, Magic Crate and AutoBrix.
Currently operating with 32 outlets across 3 cities, Charcoal Eats sells products including biryanis, rolls and rice bowls.
Launched in 2015, Charcoal Eats is a quick service restaurant (QSR) startup that claims to have served over 2 million orders since its inception. In November last year, the company had announced Rs 16 crore in funding.
“GetVantage truly understands the needs of high-growth phase businesses, their capital requirements and most importantly the need for speed in execution," Krisnakant Thakur, cofounder, Charcoal Eats said.
As the leading revenue-based financing fintech platform in India, GetVantage has made over 150 investments in over 75 digital-first brands across sectors. 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.
“As a founders-first company we are passionate about empowering home-grown entrepreneurs with growth solutions powered by revenue-based financing. Charcoal Eats continues to raise the bar in the food tech space across India and we are thrilled to serve as their long-term growth partner in bringing better food to more plates across the country,” said Bhavik Vasa, founder, GetVantage that has also funded digital-first businesses including Rage Coffee, Magic Crate and AutoBrix.
Currently operating with 32 outlets across 3 cities, Charcoal Eats sells products including biryanis, rolls and rice bowls.
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