Velocity raises $48M Series A with Visa, Circle and ripple

Velocity has raised another $10 million to expand its stablecoin payments and treasury infrastructure, taking its Series A to $48 million and valuing the London-based company at $200 million post-money. Summary Velocity raised $10 million more, bringing its Series A financing to $48 million in total. Visa Ventures, Circle Ventures, Ripple, Haun, Translink and Mirana joined the Series A extension round. CEO Eric Queathem said the new investment values London-based Velocity at $200 million post-money today. Velocity builds stablecoin infrastructure for settlement, liquidity and treasury operations without replacing existing business systems. Velocity’s July Series A raised $38 million before the latest $10 million financing extension closed. Velocity said in its Sept. 15 announcement that Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures participated in the extension. The financing follows a $38 million Series A disclosed on July 14. CEO Eric Queathem said the additional financing valued the company at $200 million after the investment. The original Series A had been oversubscribed, according to his comments accompanying the funding disclosu...