Conduit raises $36m Series A to expand global stablecoin-based payment rails

May 30, 2025

Conduit, a FinTech company specialising in stablecoin-powered cross-border payments, has raised $36m in a Series A funding round.

The round was co-led by Dragonfly and Altos Ventures, with additional backing from Sound Ventures, Commerce Ventures, DCG, Circle Ventures, and existing investors Helios Digital Ventures and Portage Ventures.

Conduit provides businesses with real-time global payment infrastructure that integrates stablecoins, USD, and local currencies. Its platform is designed as an alternative to the SWIFT network, offering faster, more affordable, and programmable transaction capabilities. The firm has built direct connections with two dozen banks across regions including North America, Latin America, Europe, Africa, and Asia.

With this latest injection of capital, Conduit plans to expand into new geographies and increase support for both fiat and digital currencies.

The raise follows a year of significant growth for Conduit, with transaction volumes on its platform increasing 16-fold in 2024, reaching an annualised payment volume of over $10bn. Since launch, Conduit has saved clients more than 60,000 hours in settlement time and generated over $55m in fee savings by eliminating the inefficiencies of traditional cross-border payment systems.

Conduit’s clients benefit from instant settlement capabilities, deep liquidity through its FX provider network, and broad currency support — including high-inflation currencies in emerging markets.

Conduit CEO Kirill Gertman said, “This fresh capital injection will enable us to accelerate our mission to build the next generation global payments infrastructure, to promote fairer economic opportunities across the world.

“Traditional cross-border payment systems do not meet the demands of modern businesses. Conduit’s platform seamlessly bridges the gap between traditional banking and stablecoin technology, offering unparalleled speed, affordability, transparency and reliability.”

Rob Hadick, a partner at Dragonfly, will join Conduit’s board as part of the investment. He said, “We’re thrilled to lead this investment round and support Kirill and his team as they reimagine how money moves across borders. With billions of annual transaction volume already flowing through Conduit’s platform, it has proven there’s a better way to move money globally and that stablecoins are the future of cross-border payments.

“What impressed us most was not just their innovative technology, but their remarkable traction and clear product-market fit. By addressing the real pain points businesses face with international transactions, particularly in emerging markets, Conduit has positioned itself as a critical infrastructure provider for the global economy.”