Setu.in Raises Revenue-based Financing through Velocity
Setu.in Raises Revenue-based Financing through Velocity

Setu, a nutrition company that uses industry-leading science to solve real-life problems, is establishing a long-term relationship with Velocity, beginning with a credit line to build its inventory and ramp up digital marketing efforts. Velocity offers non-dilutive, collateral-free growth capital of up to Rs 2 crore.

“We are committed to building the rapidly growing dietary supplements and plant-based nutrition space in India through our cutting edge, R&D backed formulations and round-the-clock personalized coaching support. Through unique formats such as oral dissolve strips, gummies, powders, and liquid capsules, Setu is able to offer high bioavailability products that are fun to use! It is our aspiration to become the brand of choice for young Indians looking for help in their wellness journey. To work with Velocity on this journey is a pleasure. It is exciting for startups such as ours with strong unit economics to be able to work with non-dilutive funding options,” said Nihaal Mariwala, Founder & CEO, Setu India.

Speaking about the round of financing, Abhiroop Medhekar, Co-founder & CEO of Velocity, says, "Setu.in is a digitally native brand with impressive RoAS and strong unit economics. The pandemic stirred a sense of health consciousness among people which increased the demand for nutritional supplements like Setu. We are excited to see the growth they plan to achieve with this round of financing."

Velocity.in, a Bengaluru-based fintech, is India’s largest revenue-based financier. The company commenced operations in early 2020 and has since worked with over 500 e-commerce businesses.

Founded in September 2017, Setu is a direct-to-consumer brand that combines science-backed plant-based nutrition with personalization and coaching support to shape lifestyle choices optimized for the digital age.

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