Velocity, a European fintech platform that covers stablecoin business, has completed a $10 million pre Series funding round

According to TFN, the European fintech infrastructure platform Velocity has completed a $10 million pre Series funding round, setting a record for the same period of funding in Europe this year. This round is led by Activiant Capital, with participation from Fuel Ventures and other institutions, and has received strategic investments from executives of companies such as Stripe and Visa. The company was co founded by former Worldpay executive Eric Queathem and real-time payment company Volt founder Tom Greenwood, focusing on three major development areas: 1) integrating a unified account architecture for virtual IBAN and digital wallets; 2) Support real-time forex intelligent routing for fiat and stablecoins; 3) Automated cross-border settlement system. At present, the team consists of 11 people and plans to expand to 30 people by the end of the year, with a focus on strengthening engineering and compliance operations. Velocity leverages traditional payment industry experience to build an enterprise level fund management platform that is compatible with both traditional banks and blockchain systems. Its technology has implemented programmable payments, liquidity collaboration, and other functions to cope with practical scenarios such as supplier payments and multi currency fund pools.