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.