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

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,”