Mesh Secures $82M in Series B Funding, Boosts Global Crypto Payments

Mesh, a prominent crypto payments network, has successfully secured $82 million in its Series B funding round, bringing its total capital raised to over $120 million. This substantial investment is poised to accelerate the development of Mesh's global crypto payments network, enhancing its infrastructure to facilitate seamless and secure digital asset transactions worldwide.

The funding round was led by Paradigm, a venture capital firm with a strong focus on blockchain and cryptocurrency. Other notable participants included Consensys, QuantumLight, and Yolo Investments. A significant portion of the investment was made using PayPal's stablecoin, PYUSD, marking a historic precedent for the use of stablecoins in venture funding.

Mesh was established in 2020 with the mission to create an open, connected, and secure financial ecosystem. The company's innovative technology, SmartFunding, streamlines the process of converting users' assets, such as Bitcoin, Ethereum, or Solana, into stablecoins for merchant settlement. This eliminates the need for manual asset conversion, thereby enhancing the transaction experience for users.

With the additional funding, Mesh plans to expand its APIs and accelerate product development. The company aims to establish the first fully global crypto payments network, allowing customers to pay with any cryptocurrency they own and ensuring merchants can settle in their preferred stablecoin. This vision aligns with the broader goal of revolutionizing global financial transactions by leveraging the advantages of blockchain technology.

Mesh's strategic partnerships with technology giants like MetaMask, Shift4, and Revolut have been instrumental in expanding its global reach. These partnerships enable over 400 million users across various countries to access Mesh's services, further solidifying its position in the crypto payments landscape.

Charlie Noyes, General Partner at Paradigm, expressed optimism about the potential of stablecoins and cryptocurrency to transform the payments industry. He highlighted Mesh's ability to maintain the benefits of blockchain transactions while simplifying cryptocurrency payments to the level of credit card transactions for both consumers and businesses.

As Mesh continues to innovate and expand its services, the company is well-positioned to lead the charge in creating a more efficient and secure global payments network. The successful funding round and strategic partnerships underscore Mesh's commitment to revolutionizing the way digital assets are used for transactions, paving the way for a future where cryptocurrency payments are as seamless and ubiquitous as traditional cash transactions.