Fintech startup, Velocity launches Shipfast for enabling faster deliveries by D2C brands

Bengaluru, 17 January: Cash flow-based financing services provider, Velocity has launched Shipfast, a solution which will help Direct-to-Consumer (D2C) businesses offer faster deliveries through their websites.

The new solution will help D2C brands to deliver their products at a faster pace, leading to quicker order fulfillment while reducing operational overheads, the company said in a press release.

While D2C brands have seen significant growth on quick-commerce platforms, many are choosing to own the customer journeys by facilitating faster deliveries through their own websites to avoid high commissions. However, delivery delays, long issue resolution times and lack of accurate tracking, often lead to customer dissatisfaction, impacting brand loyalty.

To address these pain points, Shipfast aims to enable faster deliveries through collaboration with its logistics partners. It also incorporates a mix of internal early warnings for delivery roadblocks, along with proprietary AI agents to ensure seamless deliveries, the release said.

“Velocity’s mission has always been to power the growth of D2C brands in India. Shipfast is a natural step in our evolution. While access to capital drives 40-50 per cent growth for D2C brands, faster deliveries can unlock an additional 30-40 per cent growth by increasing customer conversions. We’re excited to launch our product built in-house, and are actively looking to bolster it with potential acquisitions,” said Abhiroop Medhekar, Cofounder and CEO of Velocity.

Since its inception in 2020, Velocity has financed over 1,200 e-commerce businesses, disbursing more than Rs 1,000 crore in working capital. Some notable brands funded by Velocity are Soulflower, Suta, Imagimake, Frido, Koskii, Hammer, Bewakoof, and Chumbak among others.