Multimedia
Velocity bridged need gap for digital first ventures: 40u40 2024 Abhiroop, Saurav
India has more than 1 million digital-first businesses, but hardly 1% get access to financing from banks, VCs, seed funds, or angel investors. The growth of these businesses is constrained by constant working capital gaps and a lack of appropriate financing methods. This highlights the requirement for more diverse and accessible financial solutions better suited for digital-first ventures. To bridge the need gap, Abhiroop Medhekar and Saurav Swaroop launched Velocity in 2020 to provide alternate financing for digital-first businesses. Velocity facilitates equity-free and collateral-free loans with flexible repayment terms tied to monthly online revenues.
Also Read
-
India’s FATF scorecard: ‘Largely compliant’ but precious metals & stones sectors pose money laundering risks
-
India ranks 3rd in foreign real estate investment after China, Singapore
-
EY breaks silence on death of Anna Sebastian Perayil
-
RPSG Group's Firstsource announces foray into Australia, New Zealand; to set up AI innovation labs
-
SC rejects telcos' pleas on AGR dues; Vi shares plunge 20%