Mesh, a crypto payments network, has raised $82m in a Series B funding round led by Paradigm.
The funding round also saw contributions from Consensys, QuantumLight Capital, Yolo Investments, among others.
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This fresh capital will enable Mesh to expedite product development and enhance its APIs.
It boost the company’s total funding to over $120m.
Mesh’s previous investors including PayPal Ventures, Galaxy Ventures, and MoneyForward.
The majority of the $82m investment was settled using the PayPal USD (PYUSD) stablecoin, the release said.
This method facilitated instant closure of the funding, with Mesh’s technology ensuring secure asset transfer.
This follows PayPal Ventures’ 2024 investment in Mesh, which was also completed in PYUSD.
Mesh CEO and co-founder Bam Azizi said: “Stablecoins present the single biggest opportunity to disrupt the payments industry since the invention of credit and debit cards, and Mesh is now first in line to scale that vision across the world.
“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.”
Mesh has established partnerships with entities such as MetaMask, Shift4, and Revolut, extending its technological reach to over 400 million users across more than 100 countries.
The company’s flagship payment solution is driven by its proprietary SmartFunding technology, which bridges the gap between users’ assets and merchants’ settlement needs.
Users can make payments using cryptocurrencies such as Bitcoin, Ethereum, or Solana, while merchants receive the equivalent in stablecoins like PYUSD, UST, or USDC, without any manual conversion by the user.
The company raised $22m in its Series A round completed in 2023, which was led by Money Forward and supported by investors including Galaxy and Samsung Next.
