Velocity, a London-based stablecoin payments and treasury platform, has raised a $10 million extension to its Series A from Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital, and Mirana Ventures, bringing total Series A funding to $48 million at a $200 million post-money valuation, following a $38 million Series A closed in July. The main objective is to build infrastructure that lets issuers, acquirers, payment providers, banks, and merchants use stablecoins for settlement, liquidity management, and treasury operations without replacing the banking systems and software they already run, extending settlement beyond standard banking hours and reducing reliance on prefunded accounts. Founded in 2025, Velocity recently joined a Visa Direct pilot with MVB Financial letting participants use stablecoins for push-to-card funding and settlement. Key players include Velocity founder and CEO Eric Queathem, a former Worldpay executive who said “no one has fixed the back-end layer” of payments, and QED Investors partner Gbenga Ajayi, who called Velocity’s platform “a practical path to faster settlement.”
Velocity Raises $10M Series A Extension, Bringing Total to $48M With Backing From Visa and Circle
