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In a Series B fundraising round headed by venture capital company Paradigm, cryptocurrency payments network Mesh has raised $82 million. With this most recent investment, Mesh now has $120 million in total funding. Consensys, QuantumLight Capital, and Yolo Investments also participated in the financing.
With the additional funding, the business intends to increase the global reach of its cryptocurrency payment options. Adoption of stablecoins, which facilitate transactions for both businesses and cryptocurrency holders, will be a key area of focus.
Mesh aims to simplify crypto payments by enabling users to pay with Bitcoin, Ethereum, or Solana while ensuring merchants receive funds in stablecoins. The platform will auto-convert payments into supported stablecoins like PayPal USD, eliminating volatility concerns for businesses.
“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,” said Bam Azizi, Mesh’s CEO and co-founder.
Since its founding in 2020, Mesh has strengthened its network by connecting with financial service providers, wallets, and exchanges. Revolut, Shift4, and MetaMask are some of its main partners. To further broaden its global reach, the company has also partnered with CoinDCX in India, Conio in Italy, and Paribu in Turkey.
Mesh is well-positioned to boost stablecoin adoption and give companies faster, more effective transactions with this fresh funding. Mesh wants to take the lead in bringing cryptocurrency payments to the general public as the need for them increases.