# Codex PBC

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/codex-pbc

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.codex.xyz
- Total disclosed funding: $96M
- Latest round: Series B (Sep 30, 2025)
- Investors on record: 12

## About

Codex PBC provides innovative financial solutions that facilitate the seamless movement of fiat currency and stablecoins, enhancing transaction efficiency in global markets.Codex PBC is focused on offering comprehensive financial services aimed at transforming how users transaction with stablecoins and fiat currencies. The company raised USD 15.8 mn in Seed funding on April 4, 2025, led by Dragonfly Capital, with participation from investors including Circle Ventures and Coinbase Ventures. Founded in the US, the company has experienced significant growth since its inception and was established by individuals with a background in financial technology.Codex specializes in providing innovative financial solutions that facilitate the conversion and movement of fiat currency and stablecoins. Their core offerings enable users to convert fiat into stablecoins via Codex-connected partners, with funds delivered directly to specified wallet addresses for immediate use in settlement or transfers. Additionally, Codex allows users to disburse stablecoin balances to local fiat bank accounts or e-wallets, handling conversion and payouts through local partnerships. The platform supports multi-currency transactions for sending and receiving fiat, enhancing efficiency compared to traditional foreign exchange methods. Furthermore, Codex provisions local named bank accounts and digital wallets, enabling seamless payment acceptance in stablecoins. The company's services are available globally, catering to markets that require efficient cross-border transactions.Codex generates revenue through transaction fees associated with its financial services. Clients, including businesses and individuals, engage in transactions such as converting fiat to stablecoins or off-ramping stablecoins to local fiat currencies. For instance, a business might utilize Codex's on-ramp service to convert USD 50 from USD to USDC, incurring a fee based on the transaction amount. Moreover, the firm engages in partnerships with local financial institutions, allowing for additional revenue streams through collaborative efforts in facilitating currency conversion and payout services. Codex may also offer subscription-based pricing models for businesses that require ongoing access to its API and financial services, ensuring a consistent revenue flow through these established client relationships. In September 2025, Codex PBC raised USD 80 million in series B funding led by new investor Index Ventures, with participation from other new investors Sequoia Capital and Andreessen Horowitz. The company plans to use the September 2025 funding to improve its legal document platform, grow its engineering and sales teams, and connect better with existing document systems.

## Funding rounds

- Series B, Sep 30, 2025, $80M — Index Ventures, Hong Shan, Andreessen Horowitz
- Seed, Apr 4, 2025, $16M — Hustle Fund, Cumberland VC, Coinbase Ventures, Fabric Ventures, Mirana Ventures, Selini Capital, Circle Ventures, Wintermute Ventures, Dragonfly Capital

## Investors

- Hustle Fund (https://capitalatlas.ai/funds/hustle-fund) — Seed
- Cumberland VC (https://capitalatlas.ai/funds/cumberland-vc) — Seed
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Seed
- Fabric Ventures (https://capitalatlas.ai/funds/fabric-ventures) — Seed
- Mirana Ventures (https://capitalatlas.ai/funds/mirana-ventures) — Seed
- Selini Capital (https://capitalatlas.ai/funds/selini-capital) — Seed
- Circle Ventures — Seed
- Wintermute Ventures (https://capitalatlas.ai/funds/wintermute-ventures) — Seed
- Dragonfly Capital — Seed
- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series B
- Hong Shan — Series B
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series B