Mesh, a crypto payments company based in San Francisco, has reached a $1 billion valuation after securing $75 million in its latest Series C funding round.
The raise brings its total funding to over $200 million, according to an announcement published on January 27.
The investment was led by Dragonfly Capital and joined by Paradigm, Moderne Ventures, SBI Investment, Coinbase Ventures, and Liberty City Ventures.
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Mesh shared that some of the capital was transferred using stablecoins instead of the traditional banking system. The funds will help the company grow its crypto payment network in regions such as Latin America, Asia, and Europe, while also supporting new product development.
Recently, Mesh expanded into India, pointing to the country’s strong digital adoption and its $125 billion annual remittance market as key reasons for the decision.
Rob Hadick, general partner at Dragonfly, said, “Mesh is building the interoperability layer that makes crypto practical at scale: consumers can spend any asset, merchants can settle instantly in the stablecoin or fiat they want, and the complexity stays under the hood“.
Founded in 2020, Mesh builds infrastructure that connects wallets, exchanges, and financial platforms. This system allows users to pay with one type of cryptocurrency while merchants receive funds in stablecoins or fiat currency.
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