Crypto payments start-up Mesh bags $82m in Series B funding round
Crypto payments start-up Mesh has raised $82 million in a Series B funding round led by Paradigm, with an undisclosed majority of the investment settled in PayPal USD (PYUSD) stablecoin.
Crypto payments start-up Mesh raises $82m Series B
Yolo Investments, MetaMask parent company Consensys, and Revolut CEO Nik Storonsky’s QuantumLight Capital were among the additional investors to support the round.
Founded in 2020, Mesh has now raised over $120 million in total funding, including a $6.5 million largely stablecoin-based investment made by PayPal Ventures in February 2024. The start-up, based in the US, is also backed by Galaxy Ventures and MoneyForward.
Mesh states that its latest funds will be used to “further accelerate product development and the expansion of its APIs”.
These APIs are currently connected to partners including MetaMask, Shift4, and Revolut, enabling digital asset payments and conversions for a combined 400 million users across more than 100 countries worldwide.
Conversations are automated by Mesh’s proprietary SmartFunding technology, allowing payments in assets like Bitcoin, Ethereum, or Solana, and settlements in stablecoins such as PYUSD, UST, or USDC.
“With this funding, we’re expanding the first truly global crypto payments network – one that allows users to pay with any crypto they hold while ensuring merchants can settle in the stablecoin of their choice, just like they do with fiat today,” comments Bam Azizi, CEO and co-founder of Mesh.
