What is the news?
Speed, the global payment infrastructure startup built by an Indian-based engineering team, has announced a significant $8 million strategic funding round led by Tether and ego death capital. Founded by Niraj Patel and Jayneel Patel—the entrepreneurial duo behind the successfully acquired SaaS platform Orderhive—Speed is focused on transforming Bitcoin and stablecoins from speculative assets into practical tools for everyday global commerce.
Why is it interesting?
The company’s technology leverages the Bitcoin Lightning Network to facilitate instant, low-fee settlements for businesses worldwide. Speed has already demonstrated immense market fit, processing over $2.5 billion in real-world transaction volume and supporting a growing user base of 1.2 million. Its enterprise-grade solution, Speed Merchant, is currently being used by major international entities, including the US-based restaurant chain Steak ‘n Shake, to streamline payment flows across POS, kiosks, and mobile platforms.
This latest investment marks a pivotal moment for the Global Indian Alpha initiative, showcasing how Indian-origin founders are leveraging deep technical expertise in blockchain and fintech to build solutions for the world. With Tether’s backing, Speed plans to accelerate its global expansion, enhance its developer ecosystem, and solidify its position as a leader in the next era of compliant, lightning-fast digital payments.