Mesh raised $75 million in a Series C round on Tuesday, valuing the company at $1 billion and bringing total capital raised to over $200 million. The round was led by Dragonfly Capital and included investors such as Paradigm, Coinbase Ventures, Moderne Ventures, SBI Investment, and Liberty City Ventures, the company stated.
Mesh operates a unified crypto payments network that links wallets, blockchains, and assets to act as a single system. Its SmartFunding technology lets consumers pay in any cryptocurrency while merchants receive instant settlement in a chosen stablecoin or fiat.
“Crypto is crowded by design, with new tokens and new protocols emerging every day,” said Bam Azizi in the press release. The company also tweeted the funding news and framed the round as a step toward replacing legacy payment rails (announced).
Mesh said the funds will accelerate expansion across Latin America, Asia, and Europe, building on recent moves into India and partnerships with Ripple, Paxos, and Rain. The company claims about $10 billion in monthly payment volume (Ed. note: this figure is a company claim), and part of the Series C was settled using stablecoins.
