Velocity is the international digital hospitality service, connecting guests with frictionless, rewarding experiences at restaurant and nightlife destinations. It partners with the venues and empowers them to attract, delight, and retain high-value global customers. The service enables diners to leverage an international dining profile wherever they go, rewarding them for their global hospitality engagement through the power of mobile payments. Velocity offers discovery, reservations, mobile payment, loyalty and CRM technology to deliver more value to the venue partners while enriching the lives of the customers.
Type
Private
HQ
London, GB
Founded
2014
Size (employees)
55 (est)-1%
Velocity was founded in 2014 and is headquartered in London, GB
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Key People/Management at Velocity

Zia Yusuf

Zia Yusuf

Co-Founder & CEO
Ijaz Akram

Ijaz Akram

CTO
Alex Macdonald

Alex Macdonald

Co-Founder, Chairman & COO
Stephen Irvine

Stephen Irvine

Head of Product
Jake Grayston

Jake Grayston

Vice President, Talent
Harry Tyndall

Harry Tyndall

Director of Growth

Velocity Office Locations

Velocity has offices in Miami Beach, West Hollywood, New York and London
London, GB (HQ)
25 Old Burlington St
Miami Beach, US
Lincoln Building 350 Lincoln Rd
New York, US
54 Thompson St
West Hollywood, US
Suite 400 8560 Sunset Blvd
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Velocity Financials and Metrics

Summary Metrics

Founding Date

2014

Total Funding

$39.9 m

Latest funding size

$22.50 m

Time since last funding

2 years ago

Investors

Velocity's latest funding round in August 2016 was reported to be $22.5 m. In total, Velocity has raised $39.9 m

Velocity Financials

Velocity's revenue was reported to be £277.52 k in FY, 2017 which is a 432.5% decrease from the previous period.
GBP

Revenue (FY, 2017)

277.5 k

Revenue growth (FY, 2016 - FY, 2017), %

(432.5%)

Gross profit (FY, 2017)

62.3 k

Gross profit margin (FY, 2017), %

22.4%

Net income (FY, 2017)

(6.8 m)

EBITDA (FY, 2017)

(6 m)

EBIT (FY, 2017)

(7.1 m)

Cash (30-Apr-2017)

4.4 m
GBPFY, 2016FY, 2017

Revenue

(83.5 k)277.5 k

Revenue growth, %

(432%)

Cost of goods sold

108.9 k215.2 k

Gross profit

(192.3 k)62.3 k
GBPFY, 2015FY, 2016FY, 2017

Cash

68.4 k1.1 m4.4 m

Accounts Receivable

87.7 k65.2 k63.6 k

Inventories

109 k

Current Assets

156.1 k1.8 m5.6 m
GBPFY, 2016FY, 2017

Net Income

(9.1 m)(6.8 m)
GBPY, 2017

Revenue/Employee

5.1 k

Financial Leverage

1.1 x
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Velocity Operating Metrics

Q3, 2015Q3, 2016

Restaurants

400 1.10 k
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Velocity Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
Leanmobile Limited
Velocity Mobile Inc
Velcity Mobile Canada Inc
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