Velocity, a London‑headquartered payments‑infrastructure startup, has announced a significant milestone in its fundraising journey: an extension of its Series A round that brings total capital raised to $48 million and pushes the company’s post‑money valuation to $200 million. The round was led by a trio of heavyweight investors—Visa, Circle and Ripple—each of which brings not only capital but also strategic expertise in the fast‑evolving world of digital payments, cross‑border transfers, and blockchain‑based settlement. The infusion of funds comes at a pivotal time for Velocity.
Founded just a few years ago, the company has been building a suite of APIs and tools designed to simplify the complex web of payment processing for businesses of all sizes. By abstracting the underlying banking relationships, compliance requirements, and currency conversion mechanics, Velocity enables merchants, fintechs, and other enterprises to embed payment capabilities directly into their products without having to negotiate separate agreements with each bank or payment network.
This approach mirrors the broader trend of “payments as a service,” where specialized platforms handle the heavy lifting of regulatory compliance, fraud detection, and settlement, allowing their customers to focus on core business functions. CEO Eric Queathem, who has steered the firm since its inception, highlighted the strategic importance of the new capital.
"This round not only validates the market need for a unified payments infrastructure, but also gives us the resources to accelerate product development, expand our global reach, and deepen partnerships with financial institutions," Queathem said in a press release. He added that the involvement of Visa, Circle and Ripple—each a leader in its respective niche—provides Velocity with unparalleled insight into the future of payments, from traditional card networks to emerging digital asset ecosystems.
Visa’s participation underscores the legacy card network’s commitment to nurturing fintech innovators that can complement its own ecosystem. As card‑based transactions continue to dominate consumer spending, Visa is keen to support platforms that can drive volume through new channels, such as e‑commerce marketplaces, subscription services, and on‑demand platforms. By backing Velocity, Visa gains a front‑row seat to the ways in which APIs can streamline merchant onboarding, reduce transaction friction, and improve conversion rates. Circle, a prominent player in the stablecoin and digital‑currency space, brings a different perspective.
Known for its USDC stablecoin, Circle is focused on bridging fiat and crypto, enabling seamless movement of value across borders. Its investment signals confidence that Velocity’s infrastructure can eventually accommodate both traditional fiat flows and crypto‑based settlements, positioning the startup as a potential conduit for businesses that wish to accept or remit payments in digital assets without building the necessary compliance and liquidity layers from scratch. Ripple’s involvement adds yet another dimension. Ripple’s core technology—its Interledger Protocol and XRP ledger—has been designed to enable near‑instant, low‑cost cross‑border payments.
By aligning with Velocity, Ripple can extend its reach into the broader payments‑as‑a‑service market, offering its network’s speed and transparency to a wider array of merchants and platforms that may not be directly using XRP but still benefit from the underlying infrastructure. The $48 million raised will be allocated across several key initiatives.
First, Velocity plans to broaden its API catalog, adding new endpoints for recurring billing, multi‑currency pricing, and advanced fraud‑prevention tools powered by machine learning. Second, the company intends to scale its engineering and compliance teams to support rapid onboarding of new banking partners across Europe, North America, and the Asia‑Pacific region.
Third, a portion of the capital will fund strategic acquisitions of niche fintech firms that can augment Velocity’s capabilities—particularly those with expertise in regulatory technology (RegTech) and identity verification. Industry analysts view the funding as a bellwether for the payments sector’s continued consolidation around platform providers. According to a recent report from McKinsey, the global payments market is projected to exceed $2 trillion in annual transaction volume by 2028, driven by e‑commerce growth, digital wallets, and the rise of embedded finance.
Companies that can offer a single, developer‑friendly interface to tap into this vast ecosystem are poised to capture a significant share of the value chain. Velocity’s competitive landscape includes other API‑centric players such as Stripe, Adyen, and Checkout.com.
However, Velocity differentiates itself by emphasizing open banking integrations, real‑time settlement, and a roadmap that explicitly incorporates crypto‑native features. The backing from Visa, Circle, and Ripple not only validates this strategic direction but also provides the startup with privileged access to networks and compliance frameworks that would otherwise take years to develop. Looking ahead, Queathem outlined a vision that extends beyond mere transaction processing. "We see a future where every digital interaction—whether it’s buying a coffee, subscribing to a SaaS product, or sending money across borders—can happen in a frictionless, instant manner, with the underlying infrastructure invisible to the end user.
Our mission is to build that invisible layer, and this funding brings us one step closer to making it a reality," he said. In summary, Velocity’s Series A extension marks a significant infusion of capital and expertise at a time when the payments industry is undergoing rapid transformation.
With $48 million secured and a $200 million valuation, the London‑based startup is well‑positioned to expand its product suite, deepen global partnerships, and potentially become a bridge between traditional fiat payments and the burgeoning world of digital assets. The strategic involvement of Visa, Circle, and Ripple adds credibility and opens doors to a broader ecosystem, setting the stage for Velocity to play a pivotal role in shaping the next generation of global payment infrastructure.