Velocity's new fund will offer fixed-term credit product specifically designed to provide SaaS businesses with financing proportional to three to six times the amount of their monthly recurring revenue
Founded by Abhiroop Medhekar, Atul Khichariya and Saurav Swaroop in 2020, Velocity offers revenue-based financing to Indian direct-to-consumer (D2C) and ecommerce platforms
It aims to double its e-commerce disbursements to INR 800 Cr and allocate INR 500 Cr to emerging sectors
Revenue-based financing platform Velocity on Wednesday (January 10) said it has earmarked INR 300 Cr ($36.1 Mn) to offer financing to B2B software-as-a-service (SaaS) startups.
Under this, it will offer fixed-term credit up to 3X to 6X of a startup’s monthly recurring revenue.