Cordant Raises $8 Million to Streamline Complex Payment Transactions
Cordant, a fintech startup founded by former Rapyd executives Eric Rosenthal (CEO), Lior Levit (CTO), Juan Jose Vasso (CPO), and Sagie Itach (VP Engineering), has secured $8 million in a seed funding round. The round was co-led by Motive Partners and Oak HC/FT, with participation from Bankless VC, FJ Labs, SignalFire, Quona, Next Stage, Selah Ventures, Flatironx, Nascent Ventures, Silvercircle Ventures, and Generative Ventures. Fintech companies Bitso and Paxos, who collaborated on product development, also joined as investors.
The founders, who previously helped Rapyd expand to over 50 countries and integrate with more than 100 partners, identified a critical challenge in tracking payment transactions across multiple systems. Each system only showed part of the transaction’s status, making it difficult to understand where delays or issues occurred. This insight led to Cordant’s creation.
Cordant develops a control center platform for payment companies, fintech firms, and banks managing complex systems with many partners. The platform aggregates data from payment infrastructures, bank accounts, transaction registries, compliance, and risk management systems, creating a unified event timeline that shows the transaction’s progress at every stage. This enables teams to monitor transactions in real time, reconstruct events, identify discrepancies, and manage exceptions efficiently.
The system also generates a comprehensive audit trail documenting the transaction path, responsible parties, and applied controls, supporting compliance and risk oversight. By consolidating transaction data, Cordant provides operational, compliance, risk, finance, and audit teams with a shared view, facilitating cross-system and cross-organization collaboration.
Eric Rosenthal explained that even with real-time money transfers, it remains challenging to pinpoint where a transaction stalls. Cordant addresses this by offering full visibility into the transaction journey, which is essential for responsibly integrating AI and automation. Selah Ventures partner Adi Levanon emphasized that money is ultimately information, and Cordant’s coordination layer closes operational and regulatory gaps without replacing core systems or handling the money itself.
