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Velocity, a revenue-based financing platform in India, raises $20 million led by Peter Thiel’s Valar Ventures
Peter Thiel’s Valar Ventures has doubled down its bet on Velocity, which operates a revenue-based financing platform for e-commerce and direct-to-consumer businesses in India, just months after it first backed the Bangalore-based startup. Valar Ventures, which led Velocity’s seed round earlier this year, led the Series A as well, the two said Wednesday. Presight Capital, AngelList India head Utsav Somani’s iSeed, Maninder Gulati of Oyo, Zac Prince of BlockFi and Philippe De Mota of Hedosophia also participated in the round, which takes the startup’s all-time raise to $30 million.
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