MoonPay Looks to Fuel Global Expansion With $555M Funding
Godfrey Benjamin Nov 22, 2021 07:45
Crypto payments company MoonPay has raised $555 million in its first-ever Series A funding round, earning the firm a unicorn valuation of $3.4 billion.
Crypto payment company MoonPay has raised $555 million in its first-ever Series A funding round, earning the firm a unicorn valuation of $3.4 billion.
The funding round was led by high-profile investors, including Tiger Global Management and Coatue, with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA. According to the firm, the new capital injection will be used to fuel its global expansion while hiring world-class talents.
MoonPay offers the infrastructure that industry stakeholders can bank on to buy digital assets quickly, cheap, and secure.
The platform is integrated with a number of digital assets brokerage, including Bitcoin.com, Trust Wallet, ABRA, and ZenGo, it is also one of the major partners servicing OpenSea NFT Marketplace. With the funding, MoonPay is keen on developing its infrastructure to make good on its promise to onboard the following 1 billion users into the crypto industry.
“MoonPay is the world’s largest provider of crypto payments infrastructure that enables any organization to bridge traditional finance and crypto,” said MoonPay co-founder and CEO Ivan Soto-Wright. “We set out to democratize access to the crypto economy by providing the tools for businesses to onboard new users with magical product experiences.”
MoonPay has already hit good performance numbers since its inception. Per data on its website, it currently boasts of more than 5 million customers and has facilitated over $2 billion transactions since its inception. The platform has grown by more than 1,700% as the adoption in the industry continues to soar.
Venture capital funding is becoming a common trend in the crypto industry of today. Mainstream investors are particularly keen on becoming a major part of the industry that many have projected will shape global finance in the coming decade.
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