Cedar Money
Overview
Cedar Money is a fintech startup specializing in cross-border stablecoin payments. It was founded in 2022 and is headquartered in New York, NY, with additional offices in London, Lagos, and Tel Aviv. The company recently raised $9.9 million in seed funding, led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar. Cedar Money's platform offers fast, secure, and cost-effective international money transfers, particularly between developed and emerging markets.
Recent Developments
- January 2025: Cedar Money raised $9.9 million in a seed funding round. This funding will accelerate the company's mission to transform international money flows through innovative stablecoin payment infrastructure. Investors in the round included QED Investors and several other venture firms.
- December 2024: Cedar Money launched its mobile app, providing users globally with seamless business payment solutions.
- 2024: The company started operations in Nigeria, enhancing the ability of local businesses to conduct international transactions, thus resolving currency exchange and payment timing issues.
- Over the past year, Cedar Money has processed millions in transaction volume monthly, focusing on import-export businesses handling tangible goods, a sector where they see high demand for efficient payment solutions.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2022 |
| Headquarters | New York, NY |
| Founders | Benjy Feinberg |
| Industry | Fintech, Cross-border payments |
| Number of Employees | Approximately 16 |
| Key Investors | QED Investors, North Island Ventures, Wischoff Ventures, Lattice, Stellar |
Early History
Cedar Money was established in 2022 with an aim to revolutionize the cross-border payments industry. The founders identified a significant opportunity in leveraging stablecoins to simplify international transactions. They began operations focusing on emerging markets, particularly in Africa, where traditional banking systems posed numerous challenges. Their initial market entry was facilitated by building robust compliance frameworks to align with various regulatory landscapes.
Company Profile and Achievements
Cedar Money offers a unique cross-border payment solution that utilizes stablecoins to mitigate inefficiencies of traditional banking networks. Their business model is centered around offering competitive exchange rates, reducing transaction operational burdens, and ensuring secure, compliant transactions.
- Achievements:
- Processed tens of millions in monthly transaction volumes.
- Launched a mobile app in December 2024 to enhance global transactional capabilities.
- Established operations in Nigeria, expanding to Kenya and Ivory Coast.
- Developed compliance and technological infrastructure to support cross-border stablecoin payments.
Current Operations and Market Position
As of 2025, Cedar Money focuses on enabling businesses in Africa and other emerging markets to transact globally by bridging fiat and stablecoin payments. They offer a platform that can handle transactions up to $30 million with payouts available in 130 countries, emphasizing compliance and security.
Related Topics
Conclusion
Cedar Money has positioned itself as a key player in the fintech industry, particularly in cross-border payments. With a strong foundation in stablecoin technology and a strategic focus on emerging markets, the company is set to address significant challenges in the payments industry. Their recent funding round underscores investor confidence and will likely bolster their growth and innovation in creating a truly seamless and compliant global financial ecosystem.