Velocity, a London-based fintech startup building infrastructure to bridge traditional payments and stablecoins, has closed a $38 million Series A funding round. The raise, led in part by crypto venture firm Dragonfly, signals growing investor appetite for the plumbing that connects old-school finance to dollar-pegged digital tokens.

The money trail and who’s writing the checks

Velocity’s fundraising trajectory has been aggressive. The company raised a $10 million pre-seed round in May 2025, led by Activant Capital with strategic participation from Stripe, Worldpay, Visa, Circle, and Google. Within five months of launching, the startup secured an additional $18 million. Now, this $38 million Series A adds another substantial layer of capital to fuel product development and market expansion.

The investor list includes Stripe, Worldpay, Visa, Circle, PayPal, and Google.

Dragonfly general partner Rob Hadick framed the opportunity in blunt terms.

“These are companies that do not understand that they can be using stablecoins to solve their problems. Those are the people we are going for.”

What Velocity actually builds

The company’s flagship product is what it calls a “Stablecoin Payment Account,” a platform designed to let enterprises manage capital across banks, blockchains, and borders from a single interface.

Founded in 2025 by Tom Greenwood, who previously worked at Volt and IFX, and Eric Queathem, a Worldpay veteran, Velocity benefits from founders who understand both sides of the equation.

In May 2026, Velocity announced a partnership with Prove, a digital identity verification company, to strengthen compliance and trust within its stablecoin framework.

Why this matters for crypto markets

Dragonfly has identified a potential 10x growth in stablecoin payment adoption.

The competitive landscape is also heating up. Velocity isn’t alone in this space. Companies like Bridge, which Stripe acquired, and various banking-as-a-service providers are pursuing similar markets.