Fintech firm Velocity raises £28.4m led by Dragonfly and FirstMark
This article covers Velocity, a fintech startup that has raised £28.4m in a growth funding round to expand its stablecoin-based treasury and settlement infrastructure for enterprises, payment providers and financial institutions. The development aims to support CFOs and treasury teams by enabling faster cross-border settlement, reduced prefunding and improved liquidity management using regulated stablecoins.
Velocity, a fintech startup, has raised £28.4m in a growth funding round to expand its stablecoin-based treasury and settlement infrastructure for enterprises, payment providers and financial institutions — a bet that digital cash rails can reduce settlement times and cut the need for prefunding across borders.
Why it matters
Stablecoins have been discussed as a faster way to move value for years, but adoption by corporate treasuries has been limited by integration, compliance and custody challenges. Velocity’s funding signals investor confidence that those gaps can be closed and that enterprises may be ready to adopt stablecoin-powered workflows for liquidity management and cross-border settlement. The capital will help the company scale banking and payments connections and deepen regulatory capabilities, areas that determine whether stablecoins move from niche use cases to mainstream treasury tools.
Inside the product
Velocity offers a platform intended for CFOs and treasury teams to hold, move and settle funds using regulated stablecoins without forcing businesses to rewrite core treasury operations. The product combines stablecoin rails with local banking connections, custody, compliance tooling, liquidity management and settlement orchestration. That approach aims to tackle common corporate pain points: long settlement windows, trapped working capital due to prefunding, and the complexity of managing multi-jurisdiction cash flows.
Target customers named by the company include global merchants, payment providers, fintechs and financial institutions. The platform’s stated value propositions are faster settlement, improved visibility over cash, lower liquidity friction and the ability to move capital more efficiently across borders.
Who are the investors?
The round was led by Dragonfly and FirstMark and included participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple. The investment brings Velocity’s total capital raised to nearly £37.4m since May 2025.
In the announcement, Rob Hadick, General Partner at Dragonfly, said:
We first met Velocity over a year ago, and it was clear from the beginning they have a uniquely deep understanding of the global payments stack and how it can be disrupted. What sets them apart is their ability to connect traditional payments and banking infrastructure with stablecoin networks and unlock significant value. We believe stablecoin adoption will be driven by global enterprises and financial institutions and Velocity is reimagining how critical payments and commerce are executed.
In the announcement, Adam Nelson, Partner at FirstMark, said:
The most enduring technology companies are built around shifts that fundamentally change how industries operate. We believe stablecoins have the potential to transform the movement of money as profoundly as the internet transformed the movement of information. Velocity has all the characteristics of a category-defining company and is uniquely positioned to translate that shift into real-world infrastructure for enterprises and financial institutions.
In the announcement, Gbenga Ajayi, Partner at QED Investors, said:
At QED we've backed payments businesses across dozens of markets, and the pattern is consistent: the infrastructure that wins is the infrastructure that fits into how businesses already operate. Stablecoins will fundamentally change how money moves, but only when they're built into the workflows treasury teams already rely on. Velocity has built exactly that bridge, giving enterprises a practical path to faster settlement and more efficient global liquidity.
A quick note on investor relevance: Dragonfly is a long-standing crypto-focused investment firm, FirstMark is a New York early-stage investor with a portfolio including Shopify and Pinterest, QED is known for fintech and payments investments, Coinbase Ventures is the investment arm of the cryptocurrency exchange, Capital One Ventures is the corporate venture arm of Capital One, Ripple has a commercial focus on digital payments, and Wintermute provides digital-asset market-making and liquidity services. Their participation highlights backing from both crypto-native and traditional fintech investors.
If you're researching potential backers in this space:
- Explore our list of fintech venture capital firms in the UK
- Browse our directory of fintech angel investors in the UK
Founder perspective
In the announcement, Eric Queathem, Founder and CEO of Velocity, said:
Every business wants faster settlement, more efficient treasury operations, lower costs, and better control over global liquidity.
In the announcement, Eric Queathem, Founder and CEO of Velocity, said:
From day one, we have focused on the needs of CFOs and treasury teams, rather than focusing only on those who are crypto native. The adoption we’re seeing today, alongside the calibre of investors supporting us, reflects a broader shift in the market. Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally. We fundamentally believe they will become instrumental in powering the back end of consumer payment flows.
Queathem frames Velocity’s differentiator as an enterprise-oriented integration layer that lets treasuries keep familiar workflows while tapping the speed and liquidity properties of stablecoins.
The bigger picture
This deal sits at the intersection of two trends: continued institutional interest in digital-asset rails and the push from corporates to reduce liquidity inefficiencies in global operations. If Velocity and similar firms can demonstrate compliance, custody safety and measurable cost savings, enterprises may adopt stablecoins as one of several settlement rails rather than a speculative asset.
The investment also illustrates a broader pattern of mixed investor syndicates — combining crypto specialists, fintech-focused VCs and corporate venture arms — signalling that mainstream financial players are increasingly prepared to back infrastructure bridging traditional finance and digital assets.
As UK and European regulators continue to shape frameworks for digital money, the success of firms like Velocity will depend on both product execution and how quickly regulatory clarity emerges for regulated stablecoins and cross-border settlement. That context will determine whether startups can move from pilot projects to system-level infrastructure across the region.
They've invested in Velocity
Get to know these fintech investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 FirstMark( ) NYC, US  | ||||
 Activant Capital( ) Greenwich, US | ||||
 Capital One Ventures( ) | ||||
 QED Investors( ) QED is a premier venture capital firm specialising in fintech investments, targe... Alexandria, US | ||||
 Coinbase Ventures( ) San Francisco, US | ||||
 Ripple( ) San Francisco, US | VelocityThallo | |||
 Wintermute Ventures( ) | ||||
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