Speed, a global payment infrastructure company, has raised $8 million in strategic funding from Tether, the issuer of USDT and USAT, and Ego Death Capital, a venture fund focused on Bitcoin infrastructure.
The funds raised will be used to scale its technology infrastructure, develop advanced merchant tools and APIs for complex business needs, enable cross-border and creator payouts for the gig economy, maintain enterprise-grade compliance standards, and launch a mini-app ecosystem for third-party developers.
Founded in 2021 by Niraj Patel and Jayneel Patel, Speed Inc. is a global financial infrastructure company that builds payment rails using the Bitcoin Lightning Network and stablecoins (specifically USDT). The company enables instant, low-cost global transactions, combining the speed of the Lightning Network with the price stability of stablecoins.
The platform has evolved into two core products. Speed Merchant provides enterprise-grade payment infrastructure for businesses requiring one-second settlement, ultra-low fees, and global scalability. It enables merchants to accept both Bitcoin and stablecoins through a unified infrastructure. Speed Wallet, now one of the fastest-growing Lightning wallets globally with 1.2 million users, completes the payment loop by enabling instant Bitcoin and stablecoin transfers for individuals and businesses.
The company has processed over $2.5 billion in Bitcoin payment volume, consisting of real-world transactions including business payments and peer-to-peer transfers. The platform is growing at more than 100% year-over-year.
A significant validation of Speed’s capabilities came through its adoption by Steak ‘n Shake, a national restaurant chain operating high-volume checkout systems across hundreds of locations. The deployment required custom payment flows across point-of-sale, kiosk, and mobile channels, along with deep integration with Acrelec kiosk systems.
Steak ‘n Shake reported double-digit sales growth and a 50% reduction in payment processing fees attributed to Bitcoin payments powered by Speed’s infrastructure. The successful rollout demonstrated Speed’s ability to meet operational and reliability standards expected by enterprise brands.
Speed became one of the first companies to deeply integrate USDT into Lightning-based infrastructure, combining the world’s most adopted digital dollar with the fastest payment network. This integration unlocked growth across e-commerce, gaming, and digital platforms, while enabling seamless international payouts for creators and the global gig economy.
Niraj Patel, CEO of Speed, said, “We’ve always believed that Bitcoin and stablecoins can power everyday payments. That requires real infrastructure–fast, compliant, and scalable. This investment validates that belief and accelerates our mission.”
Jayneel Patel, Co-Founder, Speed, said, “From Orderhive to Speed, our focus has always been the same: solve real problems with technology. Speed started as a merchant solution and has grown into a global payment network. With Tether and ego death capital behind us, we’re ready to take the next leap.”
Paolo Ardoino, CEO of Tether, said, “Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT. We support teams building practical infrastructure that reduces friction in payments and expands access to reliable settlement rails. Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce.”
Preston Pysh, General Partner at Ego Death Capital, said, “Speed proves Bitcoin can power real commerce today, not years from now.”
