Key Points:
- Noah processes $1B with API for stablecoin global transfers.
- Ex-Adyen exec joins Noah, boosting credibility and strategic reach.
- Noah supports 70 countries, aiming for real-time currency conversions.
Stablecoin startup Noah has secured $22 million in seed funding. The round was led by venture capital firm LocalGlobe and included participation from Felix Capital, FJ Labs, and several angel investors. Notable individuals in the round include Palantir cofounder Joe Lonsdale and Alexander Matthey, former CTO at Adyen.
Meanwhile, the company is working on building infrastructure to support stablecoin-based payments. Its product allows software developers to use an API for transferring funds across borders using stablecoins.
Noah’s cofounder and CEO, Shah Ramezani, did not disclose the company’s valuation. However, he acknowledged the value added by his cofounder, Thijn Lamers, saying there was a “Thijn premium.”
Adyen Veteran Joins as Cofounder After Investment Talks
Thijn Lamers, a former executive at Adyen, is now president and cofounder of Noah. Lamers previously served as executive vice president of global sales at the Dutch fintech company. He originally met Ramezani as a potential investor but later joined the startup in a more active role in June 2024.
“I get so much energy from building,” Lamers said, noting his motivation to rejoin the startup world. When speaking about his cofounder’s work ethic, Ramezani added,
“This guy has so much energy, I’m, like, actually blown away.”
Product Growth and Cross-Border Focus
Noah’s technology enables real-time money transfers across 70 countries and supports conversions between 50 fiat currencies. Ramezani said the platform has processed over $1 billion in transaction volume. The company aims to offer faster and cheaper alternatives to traditional wire transfers using stablecoins pegged to fiat currencies.
The company’s mission, according to Ramezani, is to build a modern payments infrastructure. “We’re really building ‘Noah’s ark’ to save everyone from the mass currency inflation,” he said, explaining the idea behind the company name.
Network and Experience Seen as Key Differentiators
The founders believe Noah stands out in the crowded stablecoin market due to experience and industry connections. Ramezani pointed to Lamers’s background at Adyen, which involved working with regulators, partners, and large tech firms. “Everything is credibility,” Lamers said, referring to the importance of established relationships in payments.
Ramezani added that building a trusted network is essential, saying,
“The most important thing in payments… is the network.”
This experience and access to industry partnerships, they believe, give Noah a competitive edge in a growing market.
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Source: https://coincu.com/342521-noah-bags-22m-ex-adyen-exec-joins-as-co-founder/