Velocity, a London‑based firm that builds the underlying technology for modern payment systems, announced today that it has closed a $48 million Series A financing round, bringing the total amount raised in this round to $48 million and valuing the company at $200 million. The round was led by a consortium of high‑profile investors that includes Visa, Circle and Ripple, each of which brings deep expertise in digital payments, blockchain technology and financial services.
The infusion of capital marks a significant milestone for Velocity, which was founded in 2020 with the goal of simplifying the complex web of payment processing, settlement and compliance for merchants, fintechs and other financial institutions. By offering a unified API that abstracts away the intricacies of multiple payment rails—such as card networks, bank transfers, and emerging crypto‑based settlement methods—Velocity enables its clients to launch new payment products faster, reduce operational costs, and improve the end‑user experience.
CEO Eric Queathem explained that the new funding will be used to accelerate product development, expand the engineering team, and deepen partnerships with global financial institutions. "Our mission is to become the de‑facto infrastructure layer for any organization that needs to move money, whether that money is fiat, stablecoins or other digital assets," Queathem said. "The backing of Visa, Circle and Ripple not only validates our vision but also provides us with strategic resources and market access that will help us scale globally." Visa’s involvement is particularly noteworthy given its position as one of the world’s largest card networks.
By joining the round, Visa signals its interest in supporting next‑generation payment platforms that can integrate traditional card processing with newer, token‑based solutions. Visa’s investment also opens doors for Velocity to pilot joint initiatives that could streamline cross‑border transactions, improve fraud detection through shared data insights, and explore new use cases such as instant settlement for e‑commerce merchants. Circle, a leading provider of stablecoin and fiat‑on‑ramp services, brings a complementary perspective focused on the intersection of crypto and traditional finance.
Circle’s participation underscores the growing convergence between regulated digital assets and conventional payment methods. With Circle’s expertise, Velocity aims to enhance its support for stablecoin payments, enabling merchants to accept and settle in assets like USDC with the same confidence and regulatory compliance as traditional currencies. Ripple, known for its XRP Ledger and cross‑border payment solutions, adds another layer of strategic value. Ripple’s experience in building scalable, low‑cost international payment networks aligns with Velocity’s ambition to offer seamless global settlement.
The partnership could lead to joint product offerings that leverage Ripple’s liquidity network, allowing Velocity’s customers to move funds across borders in near‑real time while minimizing fees. Industry analysts view the round as a clear indicator of the accelerating demand for unified payment infrastructure. As e‑commerce, digital wallets, and decentralized finance continue to grow, businesses increasingly need a single, flexible platform that can handle diverse payment methods without the overhead of managing multiple vendor relationships.
Velocity’s technology, which abstracts the underlying payment rails into a developer‑friendly API, positions it well to capture a share of this expanding market. The $48 million raised will also fuel Velocity’s expansion into new geographic markets. The company plans to open engineering hubs in North America and Asia, tapping into talent pools that specialize in blockchain development, cybersecurity, and financial compliance.
Additionally, the funding will support the hiring of sales and partnership teams tasked with forging relationships with banks, card issuers, and fintech innovators across Europe, the United States, and emerging markets in Southeast Asia and Latin America. From a regulatory standpoint, Velocity is committed to adhering to the highest standards of security and compliance.
The firm has already obtained necessary licences in the United Kingdom and is pursuing similar authorizations in the United States under the Money Transmission Act and in the European Union under the Revised Payment Services Directive (PSD2). The involvement of seasoned investors like Visa, Circle and Ripple—each with robust compliance frameworks—provides Velocity with valuable guidance to navigate the complex regulatory landscape.
Looking ahead, Velocity’s roadmap includes the launch of several new features slated for the next 12‑18 months. These include a real‑time fraud‑prevention engine powered by machine learning, enhanced support for programmable money via smart‑contract integrations, and a suite of analytics tools that give merchants granular visibility into transaction performance across channels. By delivering these capabilities, Velocity aims to become the go‑to platform for businesses seeking to innovate in payments without the burden of building and maintaining their own infrastructure.
In summary, the successful $48 million Series A round, anchored by Visa, Circle and Ripple, not only validates Velocity’s vision of a unified, crypto‑compatible payments layer but also equips the company with the resources needed to scale globally, deepen its product suite, and accelerate regulatory compliance. As the payments ecosystem continues to evolve, Velocity is poised to play a pivotal role in shaping the future of how money moves across the world.