Stablecoin Rails Provider Noah Closes $38 Million Seed Funding Following 538% Revenue Surge
Noah, a stablecoin payments infrastructure provider focused on cross-border transactions, closed its seed funding round at $38 million, the company said in a Wednesday (Oct. 7) press release. Noah closed the round after raising an additional $16 million from new and existing investors, according to the release. The company raised $22 million earlier in the […] The post Stablecoin Rails Provider…
UK-based stablecoin infrastructure startup Noah has closed a $38 million seed funding round, according to a recent announcement. The funding round also saw an additional $16 million raised, bringing the total investment to $54 million. Noah, founded in 2020, has previously raised $22 million in seed funding, with investors including LocalGlobe, Felix Capital, Palantir co-founder Joe Lonsdale, and David Helgason, co-founder of Unity Technologies.
The startup provides payment infrastructure that enables the connection of fiat money with stablecoins. Its API-based technology allows companies to incorporate stablecoin payment capabilities into their operations. Noah currently operates in over 150 markets and supports more than 60 currencies. The additional funding will be used to expand Noah's presence in the US, including the opening of a new office in New York, as well as to scale its infrastructure.
Co-founder and CEO Shah Ramezani stated that Noah is developing the infrastructure that will enable one-click international transactions worldwide, with full compliance at both the origin and destination of funds. Much like neobanks have transformed domestic banking, Noah aims to redefine the global money transfer market.
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