- Payment’s solutions leverage modern financial infrastructure to streamline and modernize money flows between emerging and developed markets.
Cedar Money, a payments company that enables seamless cross-border money movement on stablecoins, announced today a $9.9 million seed round led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar.
The funding will enable Cedar Money to accelerate its core utility of providing payment services exclusively for businesses while advancing international money flows using cutting-edge payment infrastructure.
Cedar Money’s platform addresses the peculiar challenge unique to the traditional banking network, a near-obsolete system marred with slow, expensive, and complex processes that create business barriers.
Cedar Money achieves this by leveraging stablecoins to deliver faster, more reliable, and cost-effective cross-border payments between developed and emerging markets.
Unique Offer
Cedar Money relies on its superior, reliable, and convenient service to navigate the saturated fintech market, carving its niche in the process.
Benjy Feinberg, CEO of Cedar Money, highlighted the importance of building trust and offering an elite user experience to clients as a viable market differentiation strategy.
By integrating blockchain technology on the backend with a user-friendly, familiar fiat-based interface, Cedar Money offers businesses a seamless and compliant payment solution.
“The funding underscores the urgency for innovative payment solutions in a world where businesses face significant barriers in moving money across borders,” said Benjy “We’re proud to partner with forward-thinking investors like QED who share our vision of creating a truly global and inclusive financial ecosystem.”
Since its inception in 2022, Cedar Money’s tools have proven particularly impactful in regions where traditional payment systems are cumbersome, costly, or inaccessible.
The Platform maintains a compliance-first approach, bridging the fiat and stablecoin worlds while ensuring the secure and regulated movement of funds around the world.
Timing
The announcement comes at a time of burgeoning market opportunities for stablecoins.
- Chainalysis 2024 report revealed that Stablecoins have become the predominant asset type in some parts of the world, accounting for 60–80% of the market share in merchant services each quarter. This trend is driven by businesses utilizing stablecoins for various payment use cases, enhancing transaction efficiency and stability.
- Furthermore, the results of the U.S. presidential election have spotlighted the increasing importance of digital currencies in the global financial dialogue, amplifying the demand for efficient and compliant payment solutions.
“Cedar Money’s approach aligns perfectly with the positive momentum in the digital asset ecosystem, as businesses and governments alike recognize the transformative potential of stablecoins in enhancing cross-border money flows,” Feinberg added.
- QED Investors Partner Gbenga Ajayi reacted to the announcement highlighting Cedar Money’s essential role in Global finance.
“Cedar Money’s innovative platform is not just transforming cross-border payments, it’s creating a new paradigm in global finance. By leveraging stablecoin technology while maintaining a fully compliant and fiat-aligned user experience, Cedar Money is uniquely positioned to tackle the inefficiencies of the global financial system. We’re thrilled to support their journey.”
About Cedar Money
Founded in 2022, Cedar Money was created to transform the global payment landscape by pioneering modern approaches to international money flows. Leveraging stablecoins, Cedar Money rewires outdated SWIFT and correspondent banking network rails with innovative infrastructure.
By enabling seamless and efficient money movement across geographies, Cedar Money bridges gaps between emerging and developed markets, ensuring compliant and secure transactions for businesses worldwide.
For more details visit https://www.cedar.money/us
About QED Investors
QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide.
QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth.
Notable investments include AvidXchange, Butterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.
Learn more at www.qedinvestors.com.
Media Contact: Titilayo Oluwatosin
Director of Marketing and Communications: Cedar Money
