Cryptocurrency payments startup Mesh secures significant funding worth over $130 million from prominent backers such as PayPal, Coinbase, and SBI.
Mesh Raises Over $130 Million in Funding Round, Bolstering Crypto Payments Infrastructure
Mesh, a leading crypto payments infrastructure company, has announced the successful completion of a significant funding round, bringing its total funding to over $130 million. The round included high-profile investors such as PayPal Ventures, Coinbase Ventures, Uphold, Mirana Ventures, SBI Investment, and several other strategic partners.
The funding round is a testament to the practical application of Mesh's technology in institutional transactions. Mesh's SmartFunding technology allows users to pay with any digital asset, while merchants receive instant settlement in stablecoins or fiat currency. This service enables consumers to pay merchants using over 100 different cryptocurrencies and wallets.
The integration with major exchanges including Coinbase, Binance, ByBit, and OKX potentially reaches hundreds of millions of users. The infrastructure layer Mesh provides has become increasingly valuable for enterprises seeking to tap into crypto liquidity, with stablecoins processing $27.6 trillion in annual transaction volume and maintaining a $200 billion market cap.
The integration gives PayPal's merchant network access to an estimated $3 trillion crypto market. Mesh is playing a key role in PayPal's recently launched Pay with Crypto service. The infrastructure Mesh provides demonstrates the "security, compliance, and scalability" that enterprises demand as cryptocurrency payments move toward mainstream adoption, according to PayPal Ventures partner Amman Bhasin.
With the fresh influx of funds, Mesh plans to expand its API offerings and accelerate product development. The company's CEO and co-founder, Bam Azizi, stated, "We're building a bridge between users and merchants with a payments experience that people actually want, creating a world where anyone can pay with any asset, anytime."
The crypto market encompasses approximately 650 million users globally, and the demand for seamless, secure, and compliant crypto payments solutions is on the rise. Mesh's SmartFunding technology addresses a fundamental friction in crypto commerce by solving the common mismatch where consumers hold different cryptocurrencies than what merchants prefer to accept.
As Mesh continues to grow and evolve, it is poised to play a significant role in the future of crypto payments, bridging the gap between traditional finance and the digital asset economy.
