Velmie
Velmie is a digital banking technology provider that builds modular, API-first core banking and payments platforms for regulated financial institutions across the Middle East, Africa, and select global markets, sold via one-time source-code licenses plus managed services.
- Company typePrivate
- Founded2012
- HeadquartersWilmington, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Velmie does
Velmie is a digital banking technology provider that designs, implements, and operates digital banking and payments programs for regulated financial institutions. The company's core offering is a modular, API-first digital banking platform built on a Golang microservices architecture and deployed on AWS single-tenant infrastructure. The platform combines a configurable business capability layer (onboarding, account servicing, cards, payments, lending, digital assets) with an API middleware orchestration layer, white-label mobile (Flutter) and web channels, and integration modules for card issuing, KYC/AML, payment rails, remittance (38 currencies), and digital asset flows. Velmie positions its technology for banks, payment institutions, EMIs, card issuers, remittance businesses, and digital asset operators, with a primary geographic focus on the Middle East and Africa and a growing presence in the US, Canada, Europe, and Latin America.
The company operates a distinctive go-to-market built around a one-time software license that grants clients full source-code ownership, paired with managed services and dedicated product teams that remain accountable across implementation and post-launch operations. Distribution is primarily direct enterprise sales, supported by regional hubs in Vilnius (HQ), London, Dubai, New York, and Warsaw, plus an ecosystem of BaaS and processing partners including Synctera, Unlimit, Enfuce, and Bitlocus. Notable customer deployments include Metro Cable's Vult digital wallet in Sierra Leone (475,000+ users in year one), A2 Holding's agent banking project in Mauritania, Transi's US-Dominican Republic remittance app, the 8ghtX banking and investment app with ResClub, and a DeFi banking protocol partnership with MELD. Velmie is a private company, operating as Rolinus UAB (Lithuania, registration 305684690), with ISO 27001 certification, no disclosed external funding, and a small team of 11-50 employees. CEO and founder Slava Ivashkin leads the company.
Velmie firmographics
Firmographics- Name
- Velmie
- Legal name
- Rolinus UAB
- Website
- https://velmie.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Velmie is a digital banking technology provider that builds modular, API-first core banking and payments platforms for regulated financial institutions across the Middle East, Africa, and select global markets, sold via one-time source-code licenses plus managed services.
- Ownership category
- akta.pro rank
Velmie industry classification
Industry- Product category
- Digital Banking Platform Software
- NAICS
- Computer Systems Design and Related Services (54151), Computer Systems Design Services (541512)
- SIC
- Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Digital Account Opening & Onboarding (eKYC, eSignature, Origination) (FSAGAAAB)
- akta.pro secondary industries
- SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI), Document, Workflow & Policy Servicing Automation (RPA/No-Code) (FSAGAGAK)
Keywords
Where Velmie is headquartered
LocationHeadquarters
- HQ city
- Wilmington
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Velmie business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- One-Time Software License: Velmie's primary revenue model is a one-time license fee that grants institutions permanent ownership of the technology codebase. This converts software from an ongoing rental expense into an enduring capital asset. The license fee provides full IP ownership, enabling institutions to modify, customize, and extend the platform independently without vendor lock-in. The pricing is fixed at purchase with no automatic cost escalation tied to user growth or market expansion.
- Managed Services & Ongoing Support: Velmie operates through a dedicated product team model that remains accountable across implementation and post-launch operations, providing ongoing maintenance, upgrades, controlled enhancement delivery, and support for future integrations, markets, and product extensions. This ongoing engagement generates recurring managed services revenue.
- Professional Services & Implementation: Velmie provides implementation services including program ownership, dependency coordination, delivery accountability, release governance, and structured control over production changes. This implementation scope spans card issuing, payment rails, KYC/AML integrations, customer onboarding journeys, back-office tooling, and digital channel delivery.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | One-time license with full source-code ownership |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
Velmie product offering
Product offeringCore offering
Velmie designs, implements, and operates a modular, API-first digital banking platform for regulated financial institutions and fintech operators. The platform includes a configurable digital banking capability layer, API middleware and orchestration, and production-grade white-label mobile and web channels (built on Flutter), delivered under a one-time license model with full source-code ownership. Velmie additionally provides consulting, system integration, and managed delivery services across card issuing, payment rails, KYC/AML, and digital asset workflows.
Product overview
Velmie is a digital banking technology provider offering a modular, API-first platform designed for regulated financial institutions and fintech operators. The core offering consists of the Digital Banking Platform combined with White-Label Applications (mobile/web channels built on Flutter) and API Middleware for orchestration. Add-on modules include System Integration, Product Lifecycle Management, Digital Asset Solutions (crypto/fiat flows, tokenized assets, gold-backed products), Card Issuing Solutions, and Remittance Solutions (supporting 38 currencies). The company also provides Consulting and Delivery services for end-to-end program execution. Velmie operates through a dedicated product team model accountable across implementation and post-launch operations, targeting banks, payment institutions, EMIs, card issuers, remittance businesses, and digital asset operators primarily across Middle East and Africa, with expansion into Europe and Latin America.
Differentiator
Problem solved
Functional benefit
Brands
- 8ghtX: A banking and investment syndication app that integrates banking services with investment opportunities, launched in partnership with ResClub. Available on Google Play and Apple App Store.
Products and services
- Digital Banking Platform
- White-Label Applications
- API Middleware
- Card Issuing Solutions
- Remittance Solutions
- Digital Asset Solutions
- Consulting Services
- Delivery Services
Quantifiable outcome
- Vult grew to 475,000+ users in its first year of operation
- +3 more outcomes
Companies that use Velmie
Customer profileNamed customers5 records
Segments7 records
Ideal customer profiles6 records
Velmie technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability4 records
Feature10 records
Velmie partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- SyncteracoreVelmie partnered with Synctera, a banking and payments platform providing sponsor bank connections and compliance frameworks, to provide a complete solution for building fintech and embedded banking products in the US and Canada. The partnership enables fintechs to access Synctera's bank connections and compliance infrastructure alongside Velmie's digital banking technology for faster product launches.
- BitlocuscoreVelmie partnered with Bitlocus, a fintech company specializing in decentralized finance (DeFi), to bridge traditional finance and DeFi. The partnership integrates Bitlocus's DeFi capabilities (crypto services, high-yield staking, investment opportunities) with Velmie's digital banking platform. CEO Slava Ivashkin called it a collaboration to redefine financial landscapes and deliver DeFi accessibility to businesses and individuals worldwide.
- UnlimitcoreVelmie partnered with Unlimit's BaaS platform, combining Unlimit's cutting-edge BaaS offering (digital payments, white-label cards, regulatory compliance across EU) with Velmie's platform. Unlimit's API enables Velmie's clients to navigate regulatory complexities and access a range of solutions while avoiding the costs of entering new markets. Partnership initially focused on European market.
- TransicoreVelmie partnered with Transi, a US-based remittance company founded by experienced finance professionals, to launch a remittance application facilitating transactions between the USA and Dominican Republic. Velmie provides scalable architecture, configurable back-office workflows, and API ecosystem with access to payment and KYC service providers. Transi brings market knowledge and vision for financial inclusion in Latin America.
- ResClubcoreVelmie collaborated with ResClub, an investment company based in Florida (USA), to develop the 8ghtX App — a banking platform and investment syndication hub. The 8ghtX App integrates banking services (deposits, withdrawals, transfers) with investment opportunities (syndicated investments, dividend collections). Velmie's core banking platform served as the foundational backend, with white-label apps built using Angular and Flutter.
- EnfucecoreVelmie partnered with Enfuce, a card issuing company providing advanced card solutions in Europe and scaling globally (16+ million active card users as of 2022), to deliver scalable, compliant card solutions. Enfuce provides the card processing infrastructure while Velmie contributes API middleware, white-label front-end apps, and technology to extend card-issuing platforms with additional API connections and local vendors.
- Electronic Digital Assets INCcoreVelmie announced a strategic partnership with Electronic Digital Assets INC, a non-commercial SAAS company developing fintech solutions for Latin America. This partnership aims to transform fintech in Latin America by leveraging Velmie's banking technology and Electronic Digital Assets INC's regional expertise.
- MELDminorMELD, the first DeFi non-custodial banking protocol, partnered with Velmie to bring banking to Web3. This collaboration enables MELD to leverage Velmie's digital banking infrastructure to integrate traditional finance capabilities with decentralized finance protocols.
- Metro Cable / VultcoreVelmie partnered with Metro Cable, Sierra Leone's premier provider of high-speed gigabit internet access, to launch Vult — a modern digital wallet solution offering banking, mobile money, bill payments, and card services. Vult grew to 475,000+ users in its first year, demonstrating Velmie's ability to power large-scale digital financial inclusion in African markets.
- A2 HoldingcoreVelmie launched an agent banking project with A2 Holding to revolutionize mobile payments in Mauritania and North West Africa. This initiative addresses financial inclusion in regions where traditional banking services remain out of reach, enabling mobile-first banking through agent networks powered by Velmie's technology.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Velmie competitors and assessment
Company assessmentDirect peers
- Mambu: Mambu provides a cloud-native core banking and digital banking platform serving banks, lenders, and fintechs globally. It is directly comparable to Velmie as both deliver composable banking infrastructure used by neobanks, EMIs, and traditional institutions to launch and run regulated digital banking products.
- FintechOS: FintechOS offers a digital banking and insurance platform with low-code product configuration. It is directly comparable to Velmie as both target banks and fintechs with modular platforms; Velmie's own comparison content names FintechOS as a competitor.
- Thought Machine: Thought Machine offers cloud-native core banking technology (Vault) used by global banks. It is directly comparable to Velmie as both target regulated financial institutions seeking modern, API-first core and digital banking infrastructure with strong governance.
- HES FinTech: HES FinTech provides digital banking and lending software for banks and lenders. It is directly comparable to Velmie, and Velmie's comparison pages explicitly contrast its source-code ownership model against HES FinTech.
- 10x Banking: 10x Banking builds cloud-native core banking platforms for challenger and incumbent banks. It is directly comparable to Velmie as both target regulated banks and fintechs needing a modern core plus digital channels, and both emphasize API-first architecture.
- Backbase: Backbase offers a digital banking platform with white-label channels and integration orchestration for banks and financial institutions. It is directly comparable to Velmie as both sell modular, API-first digital banking suites to regulated banks and fintechs seeking omnichannel modernization.
- Alkami Technology: Alkami provides a digital banking platform for US regional and community banks and credit unions. Velmie's own comparison content explicitly positions against Alkami, indicating direct overlap in target buyer (regional banks) and digital-banking-platform product category.
Broad incumbents
- Temenos: Temenos is a large established banking software vendor offering core banking and digital channels. It is comparable to Velmie as an incumbent that competes for the same bank-buyer category, but with a much broader portfolio and global Tier-1 footprint.
- nCino: nCino provides a cloud banking platform for commercial, retail, and mortgage workflows at financial institutions. It overlaps with Velmie's banking-platform category but is broader and incumbency-positioned with deeper US enterprise penetration.
Emerging players
- Solarisbank: Solarisbank provides Banking-as-a-Service infrastructure in Europe with API access to regulated banking, payments, and card services. It is comparable to Velmie's Unlimit/BaaS-enabled offering as a competitor/potential partner that lets fintechs build digital products without owning a license.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Velmie social profiles
Digital presenceVelmie compliance and trust
Trust signalCompliance1 record
Velmie financial estimates
Financial estimateRevenue estimate
Valuation estimate
Velmie leadership team
Management profileNumber of profiles
Profiles3 records
Velmie funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Velmie M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Velmie
What does Velmie do?
Velmie designs, implements, and operates a modular, API-first digital banking platform for regulated financial institutions and fintech operators. The platform includes a configurable digital banking capability layer, API middleware and orchestration, and production-grade white-label mobile and web channels (built on Flutter), delivered under a one-time license model with full source-code ownership. Velmie additionally provides consulting, system integration, and managed delivery services across card issuing, payment rails, KYC/AML, and digital asset workflows.
Is Velmie a public or private company?
Velmie is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Velmie founded?
Velmie was founded in 2012. It employs 11 to 50 people.
Where is Velmie based?
Velmie is headquartered in Wilmington, United States, in the North America region.
How does Velmie make money?
Three revenue lines are on record. One-Time Software License is the primary driver. The others are managed Services & Ongoing Support and professional Services & Implementation.
Who are Velmie's main competitors?
Direct peers on record are Mambu, FintechOS, Thought Machine, HES FinTech, 10x Banking, Backbase and Alkami Technology. Broad incumbents are Temenos and nCino. Solarisbank is listed as an emerging player.
Does Velmie have an API?
Yes. Velmie offers an API-first platform designed with integration from Day One. The API middleware and orchestration layer provides a controlled integration surface between channels, core systems, and third-party providers. This layer supports orchestration, transformation, normalization, security controls, auditability, and incremental modernization. Clients can connect with payment processors, compliance engines, KYC/AML vendors, or third-party data sources without heavy-tailored build-out. The platform includes API access for account creation, management, and closure; payment initiation and processing APIs; card issuance and management APIs; KYC/AML verification APIs; real-time currency conversion and forex APIs; and reporting/analytics APIs. Developer documentation is at api.velmie.com/reference/welcome-to-velmie-api-documentation.
What industry is Velmie in?
Velmie's product category is Digital Banking Platform Software. Its primary akta.pro industry code is FSAGAAAB, Digital Account Opening & Onboarding (eKYC, eSignature, Origination), with a secondary code of FSAGAAAI, SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations). Its NAICS code is 54151 and its SIC code is 7372.