Velocity Unveils Vision to Transform Payments with USD 10M Raise Post-Stealth Launch

Founded by payment industry veterans Tom Greenwood and Eric Queathem, Velocity enables enterprises to move and manage capital seamlessly across banks, blockchains, and borders.

London, UK – 28 May 2025 – Velocity announces a $10M pre-seed funding round and emerges from stealth to launch the Stablecoin Payment Account. The round was led by Activant Capital, with participation from Fuel Ventures, Triton Capital, Fabric Ventures, Commerce Ventures, Digital Space Ventures and Preface Ventures. Strategic shareholders include current and former executives from Stripe, Worldpay, Visa, Circle, PayPal, and Google.

Founded by payments industry veterans Tom Greenwood (Volt, IFX) and Eric Queathem (Worldpay, McKinsey & Company), Velocity delivers the financial upgrade global businesses have been waiting for.

Traditional financial systems were not designed for a multi-asset economy, limiting the seamless integration of digital assets into existing infrastructure. Velocity bridges this gap by providing a platform where businesses can manage fiat and stablecoin transactions in one place, eliminating the need for parallel systems or complex integrations.

Velocity’s Stablecoin Payment Account provides enterprises with a frictionless way to move and manage capital across banks, blockchains, and borders. Designed for seamless integration, the platform combines the speed and programmability of stablecoins, with the rigour and reliability of traditional finance —- solving real-world challenges in cross-border settlement, liquidity management, and treasury operations.

“This isn’t about replacing the old with the new; it’s about intelligently integrating both,” said Tom Greenwood, co-founder and CEO. “We’re not chasing crypto hype — we’re leveraging stablecoins to remove friction, accelerate settlement, and drive improved performance in real-world financial operations.”

Greenwood previously founded Volt, a leading fintech specialising in real-time payments, and IFX, a prominent foreign exchange and cross-border payments company. Queathem spent nearly a decade at Worldpay, where he led global strategy and growth across both traditional and crypto markets. Together, they bring deep expertise in scaling regulated financial systems globally.

“We’ve experienced first-hand the financial complexity of operating a global business — the fragmentation of providers, the lack of transparency, and the workarounds,” said Eric Queathem, co-founder and President. “Velocity is built to eliminate that friction with infrastructure that scales, adapts, and solves the real-world problems large enterprises face every day when moving and managing money around the world.”

Velocity’s funding comes as global momentum builds around regulated stablecoins and digital money. Across major financial markets — including the US, UK, EU, and Singapore — emerging regulatory frameworks are accelerating enterprise adoption and driving demand for infrastructure that connects today’s financial system with tomorrow’s digital economy.

“Tom and Eric bring the rare technical depth and regulatory fluency needed to build and scale a product like this. We’ve shared this vision for years, and now is the time to bring it to life,“ said Andrew Steele, Partner at Activant Capital. “Velocity isn’t just solving cross-border payments, it’s rethinking how enterprises manage FX, liquidity, and treasury through stablecoin infrastructure,”

“Velocity is building foundational infrastructure for the future of global finance,” said Shiv Patel, Partner at Fuel Ventures. “We backed Tom at Volt, and we’re proud to back him again. Tom and Eric bring unique experience in navigating regulation, scaling enterprise platforms, and solving the real-world operational challenges that define success.”

“We’re proud to support Velocity as a technology partner,” said Ran Goldi, SVP Payments and Network at Fireblocks. “Fireblocks’ recent report on stablecoin trends showed that 90% of market participants are moving forward with stablecoin adoption at pace. As demand for digital payment infrastructure accelerates, the market needs trusted, enterprise-ready solutions. Velocity is bringing a thoughtful approach to shaping this next chapter of digital payments.”