The funding will support Noah’s US expansion, including a new office in New York.
UK stablecoin infrastructure startup Noah has closed a $38m seed funding round, it said today, after bagging another $16m to the round.
Noah, founded in 2020, said last year it had raised $22m in seed funding with funding raised from investors like LocalGlobe and Felix Capital, with angels such as Palantir co-founder Joe Lonsdale and David Helgason, the co-foudner of Unity Technologies, the gaming company, also participating.
Today, it said it had completed the round, having received an extra $16m from Endeit Capital, FJ Labs, LocalGlobe, Felix Capital and other investors. Noah provides payment infrastructure that connects fiat money with stablecoins.
Its API-based tech infrastructure means that companies can embed stablecoin payment capabilities into their operations. Noah is live in more than 150 markets and supports over 60 currencies.
The funding will support Noah’s US expansion, including a new office in New York, and help scale its infrastructure. Noah was founded by ex-Visa and ex-Adyen executives.
Shah Ramezani, co-founder and CEO of Noah, said: “Noah is building the infrastructure that will make one-click international transactions possible everywhere, with full compliance at both the origination and destination of funds. Just as neobanks have revolutionised domestic banking, we want to redefine global money transfer markets.”