Fintech startup Velocity has raised $10.3 million in seed funding led by Valar Ventures, a venture capital firm backed by PayPal Co-founder and billionaire investor Peter Thiel, marking Valar's first investment in an Indian startup. Bengaluru-based Velocity was founded by IIT Bombay graduates Abhiroop Medhekar, Atul Khichariya and Saurav Swaroop. It enables revenue-based financing for companies.