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Velocity raises $20 mn in funding round led by Peter Thiel's Valar Ventures

The fintech firm plans to deploy over Rs 1000 crore in India's e-commerce brands

(L to R) Velocity Co-founders Atul Khichariya, Abhiroop Medhekar, Saurav Swaroop
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(L to R) Velocity Co-founders Atul Khichariya, Abhiroop Medhekar, Saurav Swaroop

Peerzada Abrar Bengaluru
Velocity.in, a Bengaluru based fintech startup, said that it has raised $20 million in Series A funding led by Peter Thiel’s Valar Ventures, a US based VC firm. Launched in early 2020, Velocity has established revenue-based financing as a credible alternative to venture capital and traditional bank debt for e-commerce businesses in India.

Armed with capital, the start-up has set its sights high and aims to deploy over Rs. 1,000 crore towards over 1,000 e-commerce businesses.

“Our vision is to build the future of business financing in India. We are glad to partner with high-conviction investors like Valar since our early days,” 

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First Published: Nov 17 2021 | 3:17 PM IST

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