Cross-border paytech start-up Latitude has emerged from stealth after securing $8 million in seed funding, positioning itself to address long-standing inefficiencies in global business payments. The round was led by NEA, with additional backing from Lightspeed Faction, Coinbase Ventures, Paxos, Bitso, and the Solana Foundation.
Founded in 2025 by former Stripe and Uber executives Vivek Morzaria, Brian Wrightson, and CEO Cyril Mathew, Latitude is building a new payments infrastructure layer designed to simplify and accelerate cross-border money movement through stablecoin rails.
At the core of the company’s offering is its proprietary Latitude Liquidity Network, which enables businesses to send payments to more than 50 markets using a single API. The platform converts stablecoins into local fiat currencies, allowing for near-instant settlement while maintaining cost efficiency. Latitude currently offers a flat fee of 0.5%, significantly undercutting traditional cross-border payment costs.
Beyond its core payout capabilities, the company provides stablecoin on- and off-ramps for fintech platforms, exchanges, and digital wallets. It also offers USD ramp solutions with virtual accounts, enabling businesses to move seamlessly between fiat and digital assets within a unified infrastructure.
According to CEO Cyril Mathew, the company was founded to solve a persistent structural problem in global commerce. “Moving money across borders is still slow, expensive, and complex,” he noted, highlighting the limitations of traditional banking rails.
Drawing on experience from building payments systems at companies such as Uber, Coinbase, and Stripe, the founding team has focused on designing a system that leverages stablecoins to deliver faster, more transparent, and cost-efficient transactions.
Despite operating with a relatively small team of 11 employees, Latitude has quickly attracted strong institutional backing, reflecting growing investor confidence in stablecoin-based financial infrastructure as a core component of the future payments ecosystem.
Looking ahead, the company plans to expand its global payout network, strengthen its regulatory coverage, and continue developing infrastructure that supports scalable, real-time cross-border transactions. As stablecoin adoption accelerates, Latitude is positioning itself as a key enabler of the next generation of global commerce.
