Cross-border payment firm Latitude completes $35 million Series A funding

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Cross-border payment firm Latitude has completed a $35 million Series A round led by Oak HC/FT, with participation from NEA, Coinbase, Lightspeed Faction, and OpenFX. The startup, founded by former executives from Stripe, Uber, Coinbase, and Meta, enables businesses to send fiat currency to users in emerging markets via local payment methods using stablecoins. Licensed in 45 U.S. markets, it plans to expand its regulatory licenses to Southeast Asia, Latin America, and Africa amid developments in MiCA (EU Markets in Crypto-Assets Regulation). The new funds will be used to grow its compliance, engineering, and sales teams to enhance liquidity and access to crypto markets.

ChainCatcher report: According to Fortune magazine, cross-border payment infrastructure company Latitude has completed a $35 million Series A round led by Oak HC/FT, with participation from NEA, Coinbase, Lightspeed Faction, and OpenFX. Founded by former executives from Stripe, Uber, Coinbase, and Meta, Latitude aims to enable businesses to send fiat currency to users in emerging markets via stablecoins, using local payment methods such as bank accounts and mobile wallets. Latitude is currently licensed in 45 U.S. markets and plans to expand its regulatory licenses into Southeast Asia, Latin America, and Africa. The company currently has a team of 15, and the new funding will be used to expand its compliance, engineering, and sales teams.

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