Latitude, a global payments infrastructure company focused on simplifying cross-border money movement, has raised a $35 million Series A round led by Oak HC/FT, the company announced on September 9, 2026. The round includes participation from NEA, Coinbase Ventures, Lightspeed Faction, OpenFX and Wilson Sonsini. It follows an $8 million seed round earlier this year and brings the company’s total funding to $43 million.
Closing the Gap Between Stablecoins and Local Currencies
Stablecoins are widely considered one of the fastest ways to move money, but traditional on- and off-ramps remain difficult. Wallets and stablecoins are becoming part of everyday life, yet they are still too complex for normal users. Money must land in the currency people spend and on payment methods they already use, such as Pix in Brazil, UPI in India, or mobile money in Kenya, but outside the United States these ramps are often missing, slow, or expensive.
A Licensed and Global Infrastructure Layer
Latitude gives businesses one simple way to move between local currency and stablecoins in every market they operate in. It is licensed or approved to operate in 45 US markets and is actively pursuing licenses internationally. Latitude owns the licenses and takes on the compliance and regulatory work, so customers can focus on building their products, while contractors in São Paulo or Lagos can get paid in seconds in their own currency.
Making Money Movement Simpler
Latitude’s co-founder and CEO Cyril Mathew compared the company’s mission to the simplicity of messaging. He said users should not need to understand stablecoins to benefit from them. "We built Latitude so a business can move money in and out of any market and have it just work," Mathew said, adding that the hard part should be the product rather than the underlying plumbing.
Investor Confidence and Real-World Results
"The real challenge is building the infrastructure for stablecoins that connects a global technology to the financial systems people and businesses rely on every day," said Oivind Lorentzen, Partner at Oak HC/FT. Lorentzen noted that Latitude has taken on that hard work from the beginning by building the regulatory foundation and local connectivity required to operate at scale. He added that the company has the potential to become a foundational part of how money moves around the world.
Founding Team and Early Traction
Early customer feedback points to faster settlement and lower costs. David Morgan, Partner and Head of Accounting at Velo CFO, said payments initiated by his firm arrive in a local Philippines account within minutes and clear on time with less fees. Latitude was founded by Cyril Mathew, Brian Wrightson, and Vivek Morzaria, former payments and infrastructure leaders from Stripe, Coinbase, Meta, Uber, and Zero Hash.
With the new funding, Latitude is positioned to expand its on- and off-ramp network and regulatory footprint across more markets. The company aims to make stablecoin-based payments practical for businesses and individuals who may never hold a crypto wallet. By connecting stablecoins to local rails across more than 50 countries, Latitude is working to reduce the time, cost, and complexity of global money movement for payroll platforms, marketplaces, fintechs, and wallets.