Latitude announced a $35 million Series A on September 9 for payments infrastructure that helps businesses move money across borders and deliver it in local currency. Its customers include payroll platforms, marketplaces and fintechs whose users need funds in a bank account or familiar payment service, not necessarily in a cryptocurrency wallet.
The company's payout documentation describes a concrete sequence. A business funds its account, registers a recipient's financial-account details, requests an exchange-rate quote if it wants one, and creates a transfer. Latitude handles currency conversion and delivery through the destination's local network. Software notifications let the sender follow whether the payment completes or fails.
For example, Latitude lists Brazil's Pix network as a live route for payouts in reais. A company paying someone in Brazil can therefore integrate one transfer workflow rather than ask the recipient to manage a stablecoin and then arrange a separate conversion. The same documentation distinguishes live payment routes from beta markets, where access and volume may be limited.
The service is built into another business's product through an API—a software connection—rather than requiring that business to construct each local banking link itself. Latitude's quote process exposes the exchange rate and fee before a transfer, with an optional two-minute lock. That makes pricing and delivery status part of the integration, alongside moving the money.
Oak HC/FT led the round, with NEA, Coinbase Ventures, Lightspeed Faction, OpenFX and Wilson Sonsini participating, according to Latitude's announcement. The company says the financing follows an $8 million seed round and brings total funding to $43 million. Fortune also reported the round after interviewing CEO Cyril Mathew.
The practical test is consistency across payment routes. Moving a token quickly does not automatically mean a recipient has spendable funds, and Latitude says delivery timing depends on the country and payment method. Its opportunity is to make that last step predictable enough for businesses to use the service for recurring payroll and marketplace payments, not just occasional cross-border transfers.