Noah, a stablecoin infrastructure startup, has raised US$22 million in seed funding led by London-based VC firm LocalGlobe.

Other investors include Felix Capital, FJ Labs, and angel investors such as Joe Lonsdale, David Helgason, and Alexander Matthey.

The funds will help Noah build a global payment network that supports fiat-to-stablecoin transactions via web and mobile apps.

Former Adyen executive Thijn Lamers joins Noah as co-founder and president, alongside CEO Shah Ramezani, as the company reports over UD$1 billion in transaction volume.

Noah enables real-time currency conversions across 70 countries, offering support for 50 currencies.

As competition in stablecoin infrastructure intensifies, Noah plans to expand its reach by partnering with tech leaders, regulators, and banking partners.

🔗 Source: The Block

🧠 Food for thought

1️⃣ Seed funding sizes in fintech reflect a shifting investment landscape

Noah’s $22 million seed round represents an unusually large initial funding round, especially when contrasted with broader fintech funding patterns.

The average seed round for fintech startups typically ranges between $2-5 million, making Noah’s raise over 4x larger than standard seed investments 1.

This outsized seed round likely reflects both the capital-intensive nature of building payment infrastructure and the presence of experienced leadership, as evidenced by the recruitment of former Adyen executive Thijn Lamers as co-founder 1.

Since 2023, fintech funding has shown signs of recovery with approximately $3.8 billion raised in the first nine months of 2024, though investors have become more selective, with nearly 20% of all new fintech investments being down rounds 1.

The presence of high-profile angel investors like Palantir co-founder Joe Lonsdale signals continued interest from established tech leaders in regulated crypto infrastructure, despite the broader crypto market volatility.

2️⃣ Stablecoins are evolving from crypto speculation to mainstream financial infrastructure

Noah enters a market that has matured significantly, with stablecoins increasingly recognized as practical financial instruments rather than purely speculative assets.