Bangalore, January 17: Cash flow-based financing services provider, Velocity has launched Shipfast, a solution that will help direct-to-consumer (D2C) businesses offer faster deliveries through their websites.
The new solution will help D2C brands deliver their products at a faster pace, enabling order fulfillment faster while reducing operational overhead, the company said in a press release.
While D2C brands have seen significant growth on fast commerce platforms, many are choosing to own customer journeys by facilitating faster deliveries through their own websites to avoid high commissions. However, delivery delays, long problem resolution times, and lack of accurate tracking often lead to customer dissatisfaction, which impacts brand loyalty.
To address these issues, Shipfast aims to enable faster deliveries through collaboration with its logistics partners. It also incorporates a mix of internal early warnings for delivery obstacles, as well as proprietary AI agents to ensure seamless deliveries, the release said.
“Velocity’s mission has always been to drive the growth of D2C brands in India. Shipfast is a natural step in our evolution. While access to capital drives 40-50% growth for D2C brands, faster deliveries can unlock an additional 30-40% growth by increasing customer conversions. We are excited to launch our in-house developed product and are actively looking to strengthen it with potential acquisitions,” said Abhiroop Medhekar, Co-Founder and CEO of Velocity.
Since its inception in 2020, Velocity has funded over 1,200 e-commerce businesses, disbursing over 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.