St. Pete fintech firm relocates to Water Street Tampa

A financial technology firm will relocate to Sparkman Wharf in Water Street Tampa after calling St. Petersburg home for nearly 50 years. The move will impact clients more than employees.

Velera, a credit union service organization and payment solutions provider, announced Tuesday that it leased over 30,000 square feet in Sparkman Wharf – including the space occupied by Tampa-based developer Strategic Property Partners (SPP). Velera opened its St. Petersburg headquarters in 1977.

Brian Kosoy, vice president of corporate communications for Velera, said the firm does not expect the move to cause any employee disruptions. Most now work remotely.

“Our workforce is already hybrid and remote, including those who were previously located in the St. Pete office prior to the pandemic,” Kosoy told the Catalyst. “So, we don’t anticipate any changes. This is all positive news.”

Velera currently operates from 560 Carillon Pkwy. in St. Petersburg’s Gateway area. The company was formerly known as Payment System for Credit Unions and then went by its acronym, PSCU.

In February 2014, the company received a patent and national acclaim for its CardLock fraud prevention system. PSCU merged with California fintech firm Co-op Solutions in November 2023, creating a new organization with over 5,000 employees and $1.3 billion in annual revenue.

Velera counts over 4,000 North American financial institutions as customers and continues adapting to evolving workplace trends. The firm’s new home in Sparkman Wharf will feature a state-of-the-art client experience center, executive offices and meeting and collaboration spaces.

“Velera is thrilled to move our headquarters to Sparkman Wharf, an area that has gained national recognition as the heartbeat of Tampa and one of the fastest-growing tech hubs in the country,” said Chuck Fagan, president and CEO, in a prepared statement. “As a longtime member of the Tampa Bay business community, we look forward to leveraging the vibrancy of Water Street Tampa to enhance the experience and needs of our clients.”

Velera said it listed the Carillon campus for sale last year. Pinellas County property records show the 80,000-square-foot office building’s market value was $10.15 million in 2024.

Company officials believe the move to Sparkman Wharf, part of the expansive and growing Water Street district, will support its successful hybrid workforce and “ensure our physical footprint is successful.” The statement said Velera continues experiencing “unprecedented growth,” and the facility changes do not reflect its “financial position or budget constraints.”

“Based on consistent employee survey feedback, Velera team members enthusiastically want hybrid and remote work to continue,” it said. “We are confident our new headquarters will better meet the needs of our employees and enable us to more effectively engage with our clients.”

Sparkman Wharf and the surrounding Water Street Tampa district are home to myriad entertainment and dining options. Photo: Sparkmanwharf.com.

Company officials expect to open the new office in mid-2026. SPP will move into the Thousand and One building in the heart of Water Street.

SPP is one of Water Street’s developers and considers Thousand and One a “trophy” office tower. The building features a shared rooftop terrace with an open-air conference room, private landscaped terraces, a fitness center, a town hall meeting space, a ground-level plaza with public art, water features and multiple storefronts.

SPP will occupy 10,391 square feet on the 12^th floor of Thousand and One, which is nearing capacity. 

Velera pledged that it remains “fully committed to our home market.” Company officials will provide “additional details on our exciting new location” as they become available.