Latitude, a payments infrastructure company, raised a $35 million Series A led by Oak HC/FT. Co-founder and CEO Cyril Mathew announced the round in a post on X on Sept. 9, 2026.
The financing brings Latitude’s total funding to $43 million and follows an $8 million seed round earlier this year, according to the company. NEA, Coinbase Ventures, Lightspeed Faction and OpenFX participated in the Series A. Mathew did not disclose the company’s valuation to Fortune.
Latitude provides stablecoin on- and off-ramps and local-currency payouts through one API. Neobanks and fintech apps can let users move between stablecoins and local currency in their own markets. Payroll platforms, marketplaces and gig platforms can pay recipients in local currency across more than 50 countries.
The company said contractors, sellers and employees can receive local currency without using a crypto wallet. Mathew said users should not need to understand stablecoins to use the service.
Latitude spent its first year securing licenses and building its settlement network before spending on go-to-market operations, Mathew said. The company became licensed or approved in 45 U.S. jurisdictions in about eight months and supports settlement in more than 50 countries.
Mathew founded Latitude with Brian Wrightson and Vivek Morzaria. The founders’ combined work histories include Uber, Coinbase, Stripe and Meta, according to Fortune. Mathew also said the founders drew on experience at Zero Hash while developing the company.
Fortune reported that the Texas-based company has 15 employees and uses shared office space in New York, San Francisco and London. Latitude plans to use the funding to hire in compliance, engineering, legal and sales. It also plans to pursue licenses in Southeast Asia, Latin America and Africa.
