The fintech startup Noah, specializing in international transfers using stablecoins, has successfully closed its seed funding round, raising $22 million. The key investor was the venture fund LocalGlobe, along with participation from Felix Capital, FJ Labs, and a number of private angel investors.
This is reported by Business • Media
Key Changes in the Team and Project Advantages
Tain Lamers, former head of global sales at Adyen, has joined Noah’s management team. He now holds the position of president and co-founder of the startup. According to Lamers,
“I get tremendous energy from the creation process” and feel like I’m 25 years old.
Noah’s founder, Shah Ramezani, reported that the company already supports transfers in 50 currencies for users in 70 countries in real-time. The total transaction volume processed by the platform has exceeded $1 billion.
Reputation and Partnerships
One of Noah’s main advantages is its extensive network of contacts and the positive reputation of its co-founders. In particular, Lamers’ experience, which includes connections with top executives at leading tech companies like Uber, contributes to business development and attracting new partners.
It was previously reported that another player in the cryptocurrency space, Turnkey, also secured significant funding of $30 million in a Series B round.