.png){kind=logo}
Velocity added USD 10 million to its Series A on September 15, bringing the round to USD 48 million. Visa Ventures, Circle Ventures, and Ripple joined the extension alongside three other investors. The London-based stablecoin payments startup said the capital will support infrastructure for enterprise treasury and settlement. The raise marks its second funding announcement in just over two months.
Velocity previously announced a USD 38 million Series A on July 14. Dragonfly and FirstMark led that round, while Ripple also participated. The latest extension adds Visa Ventures, Circle Ventures, Haun Ventures, Translink Capital and Mirana Ventures. Ripple returned as an investor, supporting Velocity across payments, crypto and venture capital.
What changed with the latest extension? Velocity brought Visa and Circle into the round while raising another USD 10 million, expanding its investor group around stablecoin payments infrastructure.
The Block also reported the funding after Velocity's announcement. Its post pointed to the mix of Visa, Circle and Ripple among the investors supporting the startup.
Velocity builds systems for banks, acquirers, merchants and payment providers. Its platform supports stablecoin settlement, liquidity and treasury operations without requiring customers to replace existing payment systems.
The company said its infrastructure aims to make payment-related money movement more continuous. It also targets lower reliance on prefunding and settlement outside traditional banking hours.
Visa said stablecoins are taking a larger role in how value moves across its ecosystem. Rubail Birwadker said companies such as Velocity can help expand stablecoin use for customers and partners.
Also Read: XRP Hits Record Velocity: What This Means for the Market
Velocity founder and CEO Eric Queathem said the company focuses on improving money movement across the payments ecosystem. He said the new investors can provide insight as Velocity expands its stablecoin infrastructure.
Circle Ventures and Ripple add investors tied directly to regulated stablecoins, payments and institutional finance. Translink Capital also adds links to corporate and institutional partners across Asia.
Velocity said the new capital will support work with issuers, acquirers, payment providers, financial institutions and merchants worldwide. The company plans to connect stablecoins with existing banking, treasury and settlement systems.
