Velocity has raised $10 million in a pre-seed funding round, led by Activant Capital, to simplify global payments using stablecoins.

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The startup uses over 50 parameters to assess whether it can provide a loan to a business, and credits the amount within 5 days.Direct-to-consumer and e-commerce businesses, both of which are capital intensive initiatives, Until recently, the firms either relied on regular lenders or venture firms for financing, but the nature of their business has made both such options not as viable. The product has made inroads with many businesses in recent months and many non-customers are also signing up to the platform to receive insights, the startup said. The startup, which partners with NBFCs to finance loans, said it aims to deploy over $134 million to over 1,000 e-commerce and direct-to-consumer businesses in the next one year. The one-and-half-year-old Velocity said on Wednesday it has raised $20 million in its Series A financing round. Citing its own figures, Velocity said that the brands that have historically raised capital through Velocity grew their revenues by 1.5 times within six months of funding. Velocity may introduce a paid service for its non-customers and it is looking to broaden its insight offerings by adding more metrics and benchmarks