Noah Raises $22 Million for Stablecoin Payment Solutions

Noah, a stablecoin startup, has successfully raised $22 million in seed funding. The investment round was spearheaded by LocalGlobe, with additional contributions from Felix Capital, FJ Labs, and several angel investors, including Palantir co-founder Joe Lonsdale and Alexander Matthey, the former CTO at Adyen. This funding round underscores the growing interest and confidence in the potential of stablecoin-based payment solutions.

Noah's platform is designed to facilitate global money transfers using stablecoins through an API, making it accessible for software developers to integrate into their applications. The company's technology supports real-time currency conversions across 70 countries and 50 fiat currencies, processing over $1 billion in transaction volume. This infrastructure aims to provide faster and more cost-effective alternatives to traditional wire transfers, leveraging stablecoins pegged to fiat currencies.

Thijn Lamers, a former executive at Adyen, has joined Noah as president and co-founder. Lamers, who previously served as executive vice president of global sales at Adyen, initially met Noah's co-founder and CEO, Shah Ramezani, during investment discussions. Impressed by Ramezani's vision and work ethic, Lamers decided to join the startup in a more active role in June 2024. Lamers's extensive experience in the payments industry, particularly his background at Adyen, brings significant credibility and strategic reach to Noah. His involvement is seen as a "Thijn premium," adding substantial value to the company's operations and industry connections.

Noah's mission is to build a modern payments infrastructure that can withstand the challenges of mass currency inflation. The company's name, "Noah's ark," symbolizes its goal to provide a reliable and efficient solution for global money transfers. The founders believe that Noah's competitive edge lies in its experienced team and established industry connections. Lamers's background at Adyen, which involved working with regulators, partners, and large tech firms, is seen as a key differentiator in the crowded stablecoin market. The founders emphasize that credibility and a trusted network are essential in the payments industry, and Noah's access to these resources gives it a competitive advantage.