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Velocity Global

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The profile

A Denver employer-of-record company that took a $2,046,300 PPP loan in April 2020, reporting 116 jobs, and had $2,068,638.78 forgiven in May 2021. A year later it raised a $400 million Series B that it said lifted its valuation seven-fold, and described itself as "profitable since its founding in 2014."

Identity and role

Velocity Global, founded in Denver in 2014 by its chief executive, Ben Wright, is an employer of record: it becomes the legal employer of workers that client companies hire in other states or countries and runs their payroll, benefits and compliance there. It rebranded as Pebl in September 2025.

Pandemic-relief role

The SBA's PPP loan data list a loan to "Velocity Global, LCC" at 3858 Walnut St., Suite 107, Denver, the address on the company's own home page in April 2020. Citibank made the loan, approved on April 15, 2020, for $2,046,300. The borrower reported 116 jobs, or about $17,640 per job. The loan was forgiven on May 25, 2021, for $2,068,638.78, principal plus interest. The data list no second-draw loan under the company's name or at that address.

The application form Treasury posted on April 2, 2020, asked each borrower to certify, by initialing, that "current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant."

After the loan: two funding rounds

On April 7, 2021, seven weeks before the loan was forgiven, Velocity Global announced a $100 million growth investment from the private equity firm FFL Partners and the purchase of iWorkGlobal, which extended its employer-of-record service to all 50 states. It then served "more than 700 brands and their 4,000 supported employees." FFL's managing partner, Cas Schneller, said the company had achieved "a 400% organic growth rate over the past three years while maintaining disciplined financials."

On May 18, 2022, it announced a $400 million Series B led by Eldridge and Norwest Venture Partners. The company said the round brought a "multi-billion dollar valuation," seven times its level a year earlier, and gave no figure. The same release called it "profitable since its founding in 2014," said it had more than doubled its client roster over the past year, and projected an annual net revenue run rate of $200 million by midyear. Built In Colorado reported that more than 1,200 companies used the platform and that Velocity Global had 700 employees in 47 countries, after buying iWorkGlobal and Shield GEO in 2021.

Neither funding announcement mentions the PPP loan, and the growth figures are the company's own.

No enforcement action against Velocity Global over the loan appears in the records we reviewed.

Where they are now (2025–2026)

On September 9, 2025, Velocity Global rebranded as Pebl and launched what it called an "AI-first" platform for global hiring.

  • Globalization Partners (G-P) — a Boston employer-of-record company; PPP loan of $2,553,300 in April 2020, forgiven in June 2021.
  • OnPay — an Atlanta payroll company; PPP loan of $657,832 in April 2020, forgiven in December 2020.

Sources

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