The company has entered into partnerships with leading NBFCs and regulated entities to meet its funding needs
New Delhi: Velocity, a cash flow-based financing platform for new-age businesses, on Wednesday announced a Rs 300 crore growth capital fund for B2B software-as-a-service (SaaS) companies, news agency PTI said.
Velocity’s fund seeks to offer customised financial solutions to businesses, Abhiroop Medhekar, founder and chief executive officer of Velocity, said.
The company has entered into partnerships with leading NBFCs and regulated entities to meet its funding needs, he said.
According to the company’s official website, its mission is to empower the next generation of companies that will shape the Indian industry. It is building the future of banking and financial services for new-age businesses in India, starting with eCommerce brands.
The brand is associated with founders, digital-first businesses, and customer-centric brands. The company website further adds that it is associated with over 4,000 brands that use their products with 78% repeat customers. As of now, it has disbursed over Rs 600 crore with 1.5 times growth within months of funding.
(With inputs from PTI)
