Cryptocurrency payments company Mesh secures $82 million in funding from Paradigm for its token-based services.
In a significant move for the crypto payments industry, Mesh, a fintech company specialising in crypto and stablecoin solutions for merchants, has successfully raised $82 million in its Series B round. The funding round, led by Paradigm, was also joined by ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, AltaIR Capital, and PayPal's PYUSD stablecoin.
The key investors in this round have not been explicitly named in the available search results, but the funding round has been reported and valued at a post-money valuation of $482 million at $13.02 per share. More specific details about the individual or institutional investors who participated have not been disclosed publicly in the provided documents.
With this funding, Mesh plans to expand its global stablecoin-based settlement network and further accelerate its product development. The company is also aiming to expand the APIs of its platform to power hundreds of crypto and payments platforms.
Mesh's platform enables users to pay for products and services on merchant stores using various crypto assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), while merchants can settle using stablecoins such as PYUSD, Circle's USDC, and Ripple's RLUSD. This setup preserves the benefits of transacting over blockchain rails while providing merchants with the stability and predictability of settlements in stablecoins.
Bam Azizi, CEO and Co-Founder of Mesh, believes that stablecoins present the biggest opportunity to disrupt the payments industry since the invention of credit and debit cards. Charlie Noyes, General Partner at Paradigm, shares this sentiment, commenting that crypto and stablecoins will be an enormous transformation to payments. Paradigm believes that Mesh makes paying with crypto as simple as using a credit card for users and merchants.
Mesh's technology is now available to more than 400 users in over 100 jurisdictions, globally. The company has also partnered with MetaMask, Shift4, and Revolut, further strengthening its position in the crypto payments landscape. Mesh is well-positioned to scale its vision of stablecoin disruption across the world.
As the crypto payments industry continues to evolve, Mesh's Series B round and its ambitious plans for expansion and product development are a testament to the potential of stablecoins to revolutionise the payments sector. For more detailed information about the key investors and specific platform features, consulting Mesh's official announcements, press releases, or financial disclosures would be necessary.
The investment round involving Mesh, a fintech company specializing in crypto and stablecoin solutions for merchants, has attracted tech pioneers like Paradigm, ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, AltaIR Capital, and PayPal's PYUSD stablecoin, signifying a fusion of finance and technology. With this investment, Mesh aims to extend its global network using stablecoins and accelerate its technology development, potentially influencing news in the payments industry by redefining transaction systems with the aid of stablecoins.
