Crypto Payments Startup Mesh Hits $1 Billion Unicorn Valuation

The crypto payments network Mesh has achieved a $1 billion "unicorn" valuation after raising $75 million in a Series C funding round. The new capital will be used to accelerate global expansion and enhance its platform.

Key Insights

Funding Details: The $75 million Series C round was led by Dragonfly Capital, with participation from major investors including Paradigm, Coinbase Ventures, Moderne Ventures, SBI Investment, and Liberty City Ventures. This funding brings Mesh's total capital raised to over $200 million.

Company Overview: Founded in 2020 by Bam Azizi and Adam Israel, Mesh has built infrastructure that acts as a unified payment network to connect various crypto wallets, exchanges, and financial service platforms. It handles approximately $10 billion in monthly payments volume.

Technology: Mesh's proprietary "SmartFunding" technology allows consumers to pay with any cryptocurrency while merchants receive instant settlement in their preferred stablecoin or fiat currency, bypassing traditional finance's slow and costly settlement processes. A portion of the Series C funding was settled using stablecoins as proof of concept.

Expansion: The funds will support Mesh's expansion into Latin America, Asia, and Europe, building on existing partnerships with companies like PayPal, Revolut, Ripple, and Paxos.

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