Velocity raises $38M Series A led by Dragonfly, FirstMark

Velocity, founded in 2025, announced Tuesday it raised $38 million in a Series A round led by Dragonfly and FirstMark. Other participants included Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple. The company has raised nearly $50 million since May.

The company plans to use the new capital to expand its global banking and payments network, speed product development and strengthen regulatory and compliance capabilities to onboard enterprise and institutional clients.

Velocity builds infrastructure that lets enterprises, payment providers and banks hold, move and settle funds using stablecoins while remaining connected to traditional banking rails and compliance systems. The technology aims to shorten settlement times, remove prefunding requirements and reduce friction in cross-border capital movement without requiring firms to overhaul existing treasury operations.

Velocity’s treasury management platform consolidates fiat and stablecoin balances and offers ways for corporate funds to earn yield. Its settlement features coordinate clearing across banks, card networks, processors and digital asset rails to lower foreign-exchange friction in cross-border flows.

The startup emerged from stealth last year after a $10 million pre-seed round led by Activant Capital.

Rob Hadick, general partner at Dragonfly, highlighted the team’s payments expertise and ability to link traditional banking infrastructure with stablecoin networks: ‘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.' Adam Nelson, a partner at FirstMark, said: ‘We believe stablecoins have the potential to transform the movement of money as profoundly as the internet transformed the movement of information.'