UK-based stablecoin infrastructure startup Noah has raised $38 million in Seed funding. The company recently added another $16 million to the round, bringing its total Seed funding to $38 million.

Shah Ramezani, co-founder and CEO of Noah, said: “Noah is building the infrastructure that will make one-click international transactions possible everywhere, with full compliance at both the origination and destination of funds. Just as neobanks have revolutionised domestic banking, we want to redefine global money transfer markets.”

UK-based stablecoin infrastructure startup Noah was founded in 2020. Last year, the company announced a $22 million Seed round backed by investors including LocalGlobe and Felix Capital.

Noah has now completed the Seed round after raising an additional $16 million. The latest funding came from Endeit Capital, FJ Labs, LocalGlobe, Felix Capital, and other investors, bringing the total funding for the round to $38 million.

Noah provides payment infrastructure that connects traditional currencies, known as fiat money, with stablecoins. Its technology helps businesses use stablecoins for payments without having to build the infrastructure themselves.

Noah offers an API-based platform that allows companies to add stablecoin payment features directly to their existing operations. The company is already active in more than 150 markets and supports over 60 currencies.

Noah will use the new funding to expand its business in the US, including opening a new office in New York. The company will also invest in scaling its payment infrastructure. Noah was founded by former executives from Visa and Adyen.