Crypto Payments Network Mesh Secures $82 Million in Funding
Mesh, a crypto payments network, has successfully raised $82 million in its Series B funding round. The round was led by venture capital firm Paradigm, with contributions from Consensys, QuantumLight Capital, and Yolo Investments. This brings Mesh’s total funding to $120 million.
The fresh capital will help Mesh expand its payment solutions globally. The company aims to make crypto payments more accessible by allowing users to pay with any cryptocurrency, such as Bitcoin, Ethereum, or Solana. Merchants will receive payments in stablecoins like PayPal USD (PYUSD), ensuring faster and more stable transactions.
Mesh’s CEO, Bam Azizi, believes stablecoins can revolutionize the payments industry. “Stablecoins offer a unique chance to change how we handle payments, and Mesh is leading this change worldwide,” he said.
Founded in 2020, mesh connects numerous exchanges, wallets, and financial services. It partners with MetaMask, Shift4, and Revolut. The company also collaborates with India’s CoinCDX,crypto wallet Conio,and Turkey’s Paribu.
A significant aspect of the funding was the use of PYUSD, a stablecoin backed by PayPal and Paxos. This choice highlights the growing acceptance of stablecoins in venture capital.PayPal backed Mesh via a PYUSD investment in january 2024.
