It is with great pride and excitement that we celebrate the remarkable achievement of Abhiroop Medhekar and Saurav Swaroop, the visionary co-founders of Velocity, being recognized in Fortune India magazine’s prestigious 40 Under 40 list. This esteemed accolade is a well-deserved acknowledgment of their outstanding leadership, innovative spirit, and the transformative impact they have had on the finance and financial technology landscape.
Fortune’s 40 Under 40 is an annual ranking that honors the most influential and disruptive young leaders across various industries, making this recognition a true testament to Abhiroop and Saurav’s exceptional accomplishments and their commitment to driving positive change.
The journey to this milestone has been an inspiring one for our founders Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop. After navigating through the challenges of their earlier venture, Taskbob, they emerged stronger and more determined than ever. In 2020, they founded Velocity, a groundbreaking cash-flow based financing platform that has revolutionized the way digital-first startups access financing products.
Velocity’s innovative approach has garnered significant attention and support from esteemed investors, including Valar Ventures, the New York-based fund backed by the renowned Peter Thiel. The company’s impressive growth trajectory, with a 2.2x year-over-year increase in disbursals and revenues, a net revenue retention rate exceeding 100%, and non-performing assets maintained at less than 1.5%, is a testament to the founders’ strategic acumen and the robustness of their business model.
Through its platform, Velocity has facilitated the disbursal of more than ₹800 crore in loans, servicing over 4,000 brands and enabling over 1000 businesses, particularly D2C and e-commerce companies, to overcome working capital challenges. Velocity’s cash-flow based financing product has been a game-changer, allowing startup founders to access funding without diluting their equity.
Abhiroop and Saurav’s inclusion in Fortune’s 40 Under 40 list is not only a recognition of their individual achievements but also a celebration of the entire Velocity team’s hard work and dedication. Their commitment to empowering startups and fostering a thriving entrepreneurial ecosystem has earned them this well-deserved honor.
As we extend our heartfelt congratulations to Abhiroop and Saurav, we are filled with immense gratitude for their leadership and the opportunity to be part of this transformative journey. Their inclusion in Fortune’s 40 Under 40 list serves as a powerful inspiration, reminding us that with perseverance, innovation, and a relentless pursuit of excellence, any dream can be realized.
We look forward to witnessing Abhiroop and Saurav’s continued success and the lasting impact they will have on the fintech industry.
Read the full story of Fortune India’s 40 under 40 here