The company will use the funds primarily to build operational capacity and technology, to support growth initiatives and expand its products and service offerings, the company said in a statement.
"I have been actively following the Internet market here and I am thrilled to make my first direct investment," Saverin was quoted as saying in the statement.
After the investment, made in the website's holding company Hit the Mark Inc, Velos' co-founder and managing director Samrat Ganguly will be joining the company board as a director, while Saverin will join the board as an observer.