Speed Raises $8M from Tether and ego death capital to Build the Future of Lightning-Powered Payments Made in India

VMPL
Gujarat [India], December 30: Speed, Inc., a global payment infrastructure company, built by an indian team, has secured $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 investment will accelerate the company's mission to make Bitcoin and stablecoins viable for everyday commerce through the Lightning Network.

Founded by serial entrepreneurs Niraj Patel and Jayneel Patel, Speed emerged from a practical observation: despite crypto's promise of instant global money movement, real-world usage remained slow, expensive, and fragmented.
The founders brought significant operational experience to the problem. Before Speed, they founded Orderhive, a SaaS automation platform serving thousands of e-commerce merchants globally, which achieved a successful acquisition exit. That experience exposed them to persistent friction in global commerce, slow settlements, and fragmented payment systems that limited merchants' ability to operate efficiently across borders.
Building from first principles
Speed's approach began with simplicity: send, receive, and settle instantly. The founders built their prototype on the Bitcoin Lightning Network, identifying it as the only infrastructure capable of delivering global, real-time micropayments with near-zero fees.
The platform has since 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 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.
Enterprise validation
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.
The stablecoin integration
A key breakthrough in Speed's development was integrating stablecoins onto Lightning infrastructure. The founders recognized that Bitcoin provides speed while stablecoins provide stability--and the future required both.
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.
Strategic backing
The investment from Tether and ego death capital reflects recognition of Speed's execution and market position. Tether, the largest stablecoin issuer, sees alignment with its strategy to expand stablecoin utility beyond speculation.
"Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT," said Paolo Ardoino, CEO of Tether. "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, added: "Speed proves Bitcoin can power real commerce today--not years from now."
Deployment of capital
The $8 million will be allocated across several priorities: scaling infrastructure to support billions in annual payment volume, expanding into new geographic markets, developing advanced merchant tools and APIs for complex business needs, enabling cross-border and creator payouts for the gig economy, maintaining enterprise-grade compliance standards, and launching a mini-app ecosystem for third-party developers.
"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," said Niraj Patel, CEO of Speed.
Jayneel Patel, Co-Founder, noted: "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."
Speed's stated mission is to make Bitcoin and stablecoins the world's fastest, most reliable, and most accessible way to move money. With proven operators, strategic partners, and demonstrated traction, the company is positioning itself to lead infrastructure development in digital payments.
Learn more at www.tryspeed.com.
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