- 1VCG has deployed over $1B across 10,000+ transactions in all 50 states.
- 2It reports a 37.1% renewal rate and a sub-10% default rate.
- 3Michelle Melo joins as Director of Financial Operations & Capital Markets.
Velocity Capital Group (VCG) says it has deployed more than $1 billion to small businesses, and it has hired a capital markets executive as it moves toward institutional-scale growth. The figures came with the company's announcement of Michelle Melo as Director of Financial Operations & Capital Markets.
The numbers
Across more than 10,000 transactions, VCG reports a 37.1% renewal rate and a default rate below 10%. The firm says it operates in all 50 states and is preparing to extend its model globally, with origination volumes projected to keep accelerating through 2030.
The hire
CEO Jay Avigdor said VCG's tech- and data-powered platform is scaling faster and more efficiently than nearly any peer in its category, and that Melo is there to "institutionalize that advantage." He said she will drive pre-securitization discipline, standardized reporting and the investor relationships needed to remove scaling friction. "With Michelle on board, VCG is significantly closer to achieving our target of $1 billion in annual originations," Avigdor said.
With Michelle on board, VCG is significantly closer to achieving our target of $1 billion in annual originations.
Background
VCG's rise has been covered since 2018, beginning with a profile of Avigdor's path from solopreneur to a large office on Long Island. He said then, "We crawl before we walk before we run." This February, VCG's booth at CONNECT MIAMI included a surprise appearance by NBA All-Star Bam Adebayo.
Source reporting: deBanked.
