Velocity aims to empower food and beverage (F&B) brands by offering fast, scalable and flexible financing solutions tailored to their growth needs
Velocity offers revenue-based financing to Indian direct-to-consumer (D2C) and ecommerce platforms. Besides this, the startup also offers these businesses credit cards and payment solutions
The Bengaluru-based startup has backed various F&B brands, including IDC Kitchen, Smoor, Daily Sushi
Revenue-based financing platform Velocity
has launched an INR 200 Cr (around $23.5 Mn) fund to boost growth of India’s restaurant and cloud kitchens selling on food aggregator platforms.
With this fund, Velocity aims to empower food and beverage (F&B) brands by offering fast, scalable and flexible financing solutions tailored to their growth needs, it said in a statement.
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. Besides this, the startup also offers these businesses credit cards and payment solutions.
“The growing appetite of Indian consumers for diverse culinary experiences, combined with the convenience of online food delivery, is driving remarkable growth in the F&B sector. This shift is also fueling a premiumization trend, as consumers increasingly seek high-quality food and beverage options, reflecting their willingness to spend and indulge in unique dining experiences”, said Khichariya.
Since its inception, the Bengaluru-based startup has backed various F&B brands, including IDC Kitchen, Smoor, Daily Sushi, Brahma Brew Works, Milano Ice Cream, Imperio, Amore Gelato and Babas Chicken.
These brands have used the funding to expand their operations, strengthen supply chains, and boost marketing efforts.
The company claims to have disbursed over INR 1,000 Cr, enabling over 1,200 digital-first businesses, to overcome working capital challenges.
(The story will be updated soon)
