Financial infrastructure platform Velocity completes $10 million pre-seed funding round, led by Activant Capital.

According to TechFlow on May 28, Decrypt reported that financial infrastructure platform Velocity announced the completion of a 10 million USD pre-seed funding round, setting the record for the largest pre-seed round in Europe this year. The round was led by Activant Capital, with participation from Fuel Ventures, Triton Capital, Fabric Ventures, Commerce Ventures, and Preface Ventures.

Velocity was co-founded by former Volt CEO Tom Greenwood and former Worldpay executive Eric Queathem. The company is dedicated to building enterprise-grade payment and fund management infrastructure, achieving real-time cross-border settlements of fiat and digital assets by integrating virtual IBANs, digital wallets, and custody services. Currently, the company has 11 employees in London, New York, and Warsaw, with plans to expand to 30 employees by the end of the year, focusing on developing engineering and regulatory operations teams.