Velocity, a London‑headquartered company that builds the underlying technology for modern payment networks, announced today that it has closed a $48 million Series A financing round. The round brings the total amount raised in this series to $48 million and pushes the firm’s post‑money valuation to roughly $200 million. The financing was led by a consortium of strategic investors that includes global payment giant Visa, blockchain‑focused financial services firm Circle, and cryptocurrency‑centric fintech Ripple, among other institutional backers. The infusion of capital comes at a pivotal moment for Velocity as it seeks to expand its suite of services that enable businesses to accept, process, and settle payments across a wide array of channels, including card‑based transactions, digital wallets, and emerging crypto‑based settlements.
By providing a unified API and a robust compliance framework, Velocity aims to simplify the complex landscape of cross‑border payments, reduce friction for merchants, and lower the overall cost of moving money. "This round is a testament to the confidence that some of the most respected names in both traditional finance and the digital asset space have in our vision," said Eric Queathem, Chief Executive Officer of Velocity. "With the backing of Visa, Circle, and Ripple, we are uniquely positioned to bridge the gap between legacy payment infrastructures and the next generation of decentralized finance solutions.
Our goal is to become the go‑to platform for any business that wants to move money quickly, securely, and at a lower cost, regardless of the currency or network they choose." Visa’s participation underscores the card network’s ongoing strategy to collaborate with fintech innovators that can extend its reach into new markets and use cases. By partnering with Velocity, Visa hopes to tap into the company’s advanced routing algorithms and compliance tooling, which can help streamline the onboarding of merchants and improve transaction success rates.
Circle, known for its stablecoin USDC and broader suite of crypto‑related services, sees the partnership as an opportunity to integrate stablecoin settlements into traditional payment flows, thereby offering merchants more flexibility in how they receive funds. Ripple, a leader in blockchain‑based cross‑border solutions, views the investment as a way to accelerate the adoption of its XRP ledger for real‑time settlement of international payments. Industry analysts note that Velocity’s approach—combining the reliability of established payment networks with the agility of blockchain technology—addresses a growing demand among enterprises for hybrid payment solutions. Companies are increasingly looking for ways to accept both fiat and digital assets without having to maintain separate infrastructures.
Velocity’s platform promises to deliver a single, developer‑friendly interface that abstracts the underlying complexities, allowing businesses to focus on their core offerings rather than on payment logistics. The $48 million raised will be allocated across several strategic priorities.
First, Velocity plans to invest heavily in product development, enhancing its API capabilities, expanding support for additional payment methods, and strengthening its fraud detection and risk management tools. Second, a portion of the funds will be directed toward scaling the company’s global operations, including opening new offices in key markets across North America, Asia‑Pacific, and the Middle East. Third, the company intends to bolster its compliance and regulatory teams to navigate the increasingly intricate legal landscape surrounding digital payments and crypto assets. Velocity’s growth trajectory has been impressive since its inception.
Founded in 2020, the company quickly attracted attention for its ability to process high‑volume transactions with low latency, a critical requirement for sectors such as e‑commerce, travel, and digital goods. Early adopters praised the platform’s ease of integration and its transparent pricing model, which contrasts with the opaque fee structures typical of many legacy processors.
By the end of 2023, Velocity reported processing over $2 billion in transaction volume, a figure that the leadership expects to double within the next 12 months. The involvement of both traditional finance and crypto‑centric investors reflects a broader industry trend where the lines between these two worlds are increasingly blurred. As regulatory frameworks evolve and consumer preferences shift toward faster, borderless payment experiences, companies like Velocity that can operate seamlessly across both ecosystems are likely to gain a competitive edge. Looking ahead, Velocity’s roadmap includes launching a suite of value‑added services such as real‑time currency conversion, programmable payouts, and advanced analytics dashboards for merchants.
Additionally, the company is exploring partnerships with decentralized finance (DeFi) protocols to enable automated liquidity provisioning and yield generation for businesses that hold crypto assets on the platform. In summary, the $48 million Series A round not only provides Velocity with the financial resources needed to accelerate its product and market expansion but also validates its hybrid payment model in the eyes of some of the most influential players in the payments and crypto sectors.
With Visa, Circle, and Ripple on board, Velocity is well‑positioned to drive innovation at the intersection of traditional finance and digital assets, offering merchants a more versatile, cost‑effective, and future‑proof way to move money around the globe.