Velocity raises $10M Series A extension from Visa, Circle and Ripple, reaching $48M total at $200M valuation
Velocity raises $10M Series A extension from Visa, Circle and Ripple, reaching $48M total at $200M valuation #
London-based stablecoin infrastructure startup Velocity has added $10 million to its Series A, bringing the total to $48 million at a post-money valuation of $200 million. The extension drew investment from Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures, according to CEO Eric Queathem.
The new tranche closes less than two months after Velocity raised a $38 million round led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple, which also joined the extension. Queathem told CoinDesk the original round was oversubscribed.
Founded in 2025, Velocity builds infrastructure that lets banks, payment providers and enterprises run settlement, liquidity and treasury operations on stablecoin rails without replacing their existing financial systems. Queathem spent nine years at Worldpay working on corporate strategy, acquisitions and global payouts. He has said the payments industry invested heavily in consumer-facing improvements while leaving back-end infrastructure largely unchanged, and that stablecoins can address that gap for CFOs and treasury teams.
Visa joined the round after Mastercard acquired stablecoin settlement firm BVNK in August, a deal that left Visa without a comparable dedicated partner. Circle Ventures and Ripple, rivals in the stablecoin issuance market, both participated in the extension.
Days before the funding announcement, Velocity and MVB Financial Corp. disclosed that MVB would join a Visa Direct pilot allowing eligible participants to use stablecoins for push-to-card funding and settlement. Velocity connects MVB, a U.S. sponsor bank, to Visa’s real-time payouts network through stablecoin rails.
Velocity said it will use the new capital to expand its business-payments infrastructure for enterprise clients globally. Co-founder Tom Greenwood previously built open-banking platform Volt and foreign-exchange firm IFX Payments.
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