Conduit Raises $36M in Series A

We’ve raised $36 million to scale the next generation of cross-border payments

Today, we’re proud to share that Conduit has raised $36 million in Series A funding to accelerate the adoption of stablecoin-powered payments across Latin America, Africa, and Asia. The round was co-led by Dragonfly and Altos Ventures, with participation from Sound Ventures, Commerce Ventures, DCG, Circle Ventures, and our existing investors Helios and Portage. This brings our total funding to $53 million.

We’re building a new kind of financial infrastructure—one that’s faster, cheaper, and more reliable than the legacy systems that still dominate global business payments.

At Conduit, we believe stablecoins aren’t just a new technology—they’re the missing piece that connects fragmented payment systems worldwide. While traditional cross-border rails remain slow, opaque, and costly, stablecoins offer a way to move money instantly, transparently, and with full interoperability between fiat and digital currencies.

That vision isn’t theoretical anymore. In the past year, transaction volume on our platform grew 16x in 2024, surpassing $10 billion in annualized volume. Our network now spans 14 currencies and over 20 banks in nine countries, including the U.S., Mexico, Brazil, Nigeria, and Kenya.

This new round of funding will help us:

• Launch in five new countries in Asia
• Expand our local currency and stablecoin coverage
• Grow our team and continue improving our infrastructure

We’re grateful to our investors, clients, and partners who have believed in our mission from the beginning. Cross-border payments are long overdue for change. Together, we’re building the rails that global businesses need to grow.

Let’s keep building.