Mesh raises 75 million USD, valued at 1 billion USD

Crypto payment network Mesh announces the completion of a $75 million Series C funding round, bringing the total capital raised to over $200 million, with the company’s valuation reaching $1 billion. Dragonfly Capital led this round, with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures.

The new capital will support Mesh in expanding operations in Latin America, Asia, and Europe, as well as driving product development and strengthening the global network, which the company states has reached over 900 million users. Previously, Mesh also announced expansion into India, along with integration of Ripple USD and establishing partnerships with Paxos and Rain.

Mesh positions itself as a neutral payment infrastructure, connecting various wallets, blockchains, and digital assets to reduce friction caused by market fragmentation in crypto. The company states that its proprietary SmartFunding technology allows users to pay with multiple types of assets, while merchants can receive instant payments in stablecoins or fiat currency of their choice.

The company also believes that the explosion of stablecoins and new blockchains is creating separate “liquidity islands,” forcing users to manage multiple platforms and networks. Mesh aims to serve as an intermediary infrastructure layer, enabling assets to be used more flexibly in payments.

According to the company, part of the Series C funding was paid in stablecoins to demonstrate the practical application of blockchain infrastructure in large-value transactions in real-world environments.