Velocity, a Bengaluru-based fintech startup, 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 ecommerce businesses in India.
The startup is keen to use the funding to build multiple world class products for thousands of new age businesses.
