Cedar Money Secures $9.9M Seed Funding

Cedar Money, a fintech startup utilizing stablecoins for cross-border payments, has raised $9.9 million in a seed funding round led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar.

Tackling Cross-Border Payment Challenges

Cedar Money is on a mission to streamline international money transfers by addressing:

Slow settlement times

High fees

Regulatory complexities

The company focuses on remittances and international trade, particularly in emerging and developing markets where traditional banking infrastructure is often inefficient.

Stablecoins & Compliance: Cedar’s Unique Approach

By leveraging stablecoins, Cedar Money offers businesses:

Faster transactions compared to traditional banking systems

Lower costs for international money transfers

Stronger regulatory compliance, ensuring seamless operations across different markets

CEO Benjy Feinberg emphasized the challenge of building a compliant payment infrastructure:

“We’re navigating the intricate compliance landscapes of various countries while ensuring a fiat-aligned user experience. This funding underscores the urgent need for innovative payment solutions.”

Investor Confidence & Market Potential

Gbenga Ajayi, Partner at QED Investors, highlighted Cedar’s potential:

“By combining stablecoin technology with compliance-first infrastructure, Cedar Money is uniquely positioned to tackle the inefficiencies of the global financial system.”

Sub-Saharan Africa’s remittance market remains substantial, with Nigeria alone receiving $19.5 billion in inflows last year—35% of the region’s total, according to the World Bank.

What’s Next for Cedar Money?

Expansion into high-growth remittance corridors

Scaling regulatory-compliant fintech solutions

Bridging traditional banking with crypto-powered payments

With strong investor backing and a clear market opportunity, Cedar Money is positioning itself as a game-changer in the evolving fintech landscape.

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