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InCruiter secures Rs 11 million from GetVantage, a revenue-based financing platform

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The HR-tech startup, InCruiter, obtained Rs 11 million through undiluted Revenue-Based Funding from GetVantage. The aim is to leverage these funds to evolve into a comprehensive solution for companies seeking faster and superior talent recruitment, as per the company's statement. The Bengaluru-headquartered firm received financial backing from the Start-Up India Scheme, securing Rs 20 lakh in debt funding. Furthermore, in January 2023, it raised Rs 1 crore from Recur Club in a revenue-based funding round.

InCruiter utilizes AI-driven processes to expedite interviews, claiming to have saved over 10,000 HR minutes in three months and conducted more than 4 million total interview minutes. Recently, the startup launched a new product called "IncBot", established a new office in the USA, and successfully onboarded 87 new clients in the previous year.

Anil Agarwal, CEO and Co-Founder of InCruiter, shared insights into the company's future and goals following the funding, expressing aspirations for accelerated growth. Reflecting on the journey, Agarwal aims for a 5X speed growth by onboarding more clients, enhancing service quality through automation and extending the global footprint beyond the existing Indian clientele. To accomplish these ambitions, the plan is to substantially expand the team across technology, sales and marketing sectors.

GetVantage, which obtained NBFC certification from the RBI last year, boasts support from investors like Chiratae Ventures, Varanium, InCred, DMI, Sony, and DI from Japan. The company aims to leverage the NBFC status with Rs 50 crore and intends to raise a total of Rs 200 crore to expand its lending operations.