Mesh has successfully completed its Series B funding round, raising $82 million to expand its crypto payment network.
Series B Funding
Mesh has announced raising $82 million in its Series B funding round led by venture capital firm Paradigm. The round also saw participation from Consensys, QuantumLight Capital, and Yolo Investments, bringing the total capital raised to $120 million.
Stablecoin Adoption Expansion
Proceeds from the funding will be used to expand their payment network globally. The company plans to integrate crypto payments and stablecoins into merchant operations, allowing cryptocurrency users to transact with Bitcoin, Ethereum, or Solana, with merchants receiving payments in stablecoins like PayPal USD. CEO and co-founder Bam Azizi stated: “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.”
Partnerships and PYUSD Support
Founded in 2020, Mesh partners with various exchanges, wallets, and financial services, including MetaMask, Shift4, and Revolut. It has also formed partnerships with India's CoinCDX, wallet provider Conio, and Turkish platform Paribu. Notably, much of the capital from the funding round came in the form of PayPal USD stablecoins, owing to their benefits of instant settlement, transparency, and 24/7 support.
With this round of funding completed, Mesh plans to significantly expand its operations worldwide, leveraging stablecoins to facilitate crypto payments and merchant interactions.
