London fintech Noah announced Monday it has closed a $16 million seed extension led by Amsterdam's Endeit Capital, with participation from FJ Labs, LocalGlobe and Felix Capital. The round brings the stablecoin payments startup's total seed funding to $38 million as it prepares to open a New York office and expand across the U.S.
The timing reflects both opportunity and competition in a narrow but rapidly growing market. Business-to-business payments conducted through stablecoins—dollar or euro-pegged digital currencies—reached roughly $226 billion on an annualized basis in 2025, up more than sevenfold from the prior year, according to research McKinsey published in February 2026. That figure still represents a fraction of global B2B payment volumes, leaving considerable room for expansion but also attracting attention from entrenched players.
Mastercard agreed in March 2026 to acquire stablecoin infrastructure provider BVNK for as much as $1.8 billion, a deal that underscored how seriously established payments networks are taking the technology. London-based competitor Due raised its own seed extension in 2025, though at a far smaller scale.
Noah's pitch centers on solving a familiar headache: moving money across borders without assembling a patchwork of local integrations in each market. The company builds infrastructure that connects traditional payment methods—bank transfers, mobile money—to stablecoins, effectively using digital currencies as the plumbing for international transactions. Businesses can collect payments in one country's currency, convert to a stablecoin like USDC or USDT, then deliver funds in another currency through local rails on the other end.
The company reported revenue growth of more than 500% through 2026 compared to the prior year, with an average month-over-month increase of 31%, according to a press release. Noah says it added over 150 enterprise clients during the period and now operates across more than 150 markets in over 60 currencies. (The company did not disclose absolute revenue figures or clarify whether these figures reflect calendar year 2025 or extend into early 2026.)
Noah offers three products under its unified API. Payin collects local fiat currency and converts it to stablecoins through virtual accounts. Payout reverses the process, turning stablecoins into more than 30 fiat currencies and delivering them via local payment systems including Mobile Money and Mercado Pago. A third tool, Orchestrate, automates settlement flows with programmable triggers across currencies and payment methods. The platform supports USDC, USDT and EURC, according to the company's help center.
Shah Ramezani, Noah's co-founder and CEO, previously worked as an analyst at UBS. Thijn Lamers, co-founder and president, joined in 2024 after a stint as executive vice president of global sales at Adyen, the Dutch payments processor. The pedigree matters in a sector where trust and regulatory fluency separate viable platforms from vaporware.
"Cross-border payments still run on rails built decades ago, and we had been looking for the leader in stablecoin infrastructure for some time," Jonne de Leeuw, a partner at Endeit, wrote in a blog post Monday. "We found it in Noah: the team and product are setting the standard in the space, and the customer traction shows the demand is real."
Noah has struck infrastructure deals with a range of partners. Ledger integrated Noah's service into its Cash-to-Stablecoin feature in October 2025, allowing users to deposit euros or dollars that convert instantly to USDC inside Ledger Wallet, according to a Ledger blog post. A partnership with NALA, announced in January, brings instant dollar settlement and local-currency payouts across emerging markets using stablecoin infrastructure.
Endeit's announcement named Western Union and Opera among Noah's customers. Opera's MiniPay partnership was publicly announced in July 2025. Western Union has not independently confirmed a relationship with Noah beyond the investor's statement. Other clients mentioned in company blog posts include Portal, Cedar Money, Bron and Aurea Hub, though the dates of these announcements span from late 2025 into mid-2026.
Noah holds money transmitter licenses across multiple U.S. states under NMLS number 2696057, along with money services business registration in Canada and a virtual asset service provider registration in Lithuania for its Noah LT entity, according to the company's licensing page. The regulatory groundwork suggests the startup has been building toward its U.S. push for some time.
LocalGlobe led Noah's initial $22 million seed round in June 2025. That round included Felix Capital, FJ Labs and individual backers such as Palantir's Joe Lonsdale, Unity's David Helgason, former Adyen CTO Alexander Matthey and DST Global's Tom Stafford. The company declined to disclose its current valuation, though Endeit said Monday that Noah's valuation "doubled in the past year" without providing specific figures.
"Stablecoins combine the flexibility of digital currencies with the stability of fiat currencies to allow money to move at the speed of the internet," Ramezani said in Monday's release. "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."
Noah's LinkedIn profile shows 51 employees as of October 2026, placing headcount between 11 and 50 according to the platform's bracketing. Whether the new capital will fund a significant hiring spree remains unclear, though opening a New York office typically signals at least modest expansion plans. For now, the company appears focused on proving that stablecoins can graduate from crypto speculation to genuine infrastructure—a bet that depends as much on regulatory clarity as technical execution.
