Volt founder’s new fintech emerges from stealth with £7.4m elevate

Velocity, a brand new fintech startup from Volt.io co-founder Tom Greenwood has emerged from stealth with a $10m (£7.4m) pre-seed funding spherical.

Velocity goals to bridge the hole for companies between conventional and digital property with a platform to handle transactions made with each fiat forex and stablecoins.

The Velocity stablecoin cost account will enable companies to handle purchases utilizing cryptoassets with out requiring a number of funds techniques.

“This isn’t about changing the outdated with the brand new; it’s about intelligently integrating each,” stated Greenwood.

“We’re not chasing crypto hype — we’re leveraging stablecoins to take away friction, speed up settlement, and drive improved efficiency in real-world monetary operations.”

Greenwood, chief govt of Velocity, based the corporate alongside Eric Queathem, a fintech veteran who spent nearly a decade at cross-border funds agency Worldpay.

“We’ve skilled first-hand the monetary complexity of working a world enterprise — the fragmentation of suppliers, the shortage of transparency, and the workarounds,” Queathem added.

“Velocity is constructed to remove that friction with infrastructure that scales, adapts, and solves the real-world issues giant enterprises face day by day when transferring and managing cash around the globe.”

The funding spherical was led by Activant Capital and included participation from Gasoline Ventures Triton Capital, Cloth Ventures, Commerce Ventures, Digital Area Ventures and Preface Ventures.

“Tom and Eric carry the uncommon technical depth and regulatory fluency wanted to construct and scale a product like this.

“Now we have shared this imaginative and prescient for years, and now could be the time to carry it to life,” stated Andrew Steele, a associate at Activant Capital.

“Velocity isn’t simply fixing cross-border funds, it’s rethinking how enterprises handle FX, liquidity, and treasury by means of stablecoin infrastructure.”