TL;DR
- Mesh raised capital from PayPal Ventures, Coinbase Ventures, and others; total funding now exceeds $130 million, with part of the latest round settled in PYUSD.
- The SmartFunding technology allows payments with over 100 cryptocurrencies and instant settlement in stablecoins or fiat.
- The new capital will scale APIs and product development to connect hundreds of platforms, aiming to enable payments with any asset and instant, stable settlement.
Mesh, a developer of cryptocurrency payment infrastructure, received investments from PayPal Ventures, Coinbase Ventures, Uphold, Mirana Ventures, SBI Investment, Overlook Ventures, Kingsway Capital, Moderne Ventures, and CE-Ventures.
With this injection, the company has surpassed $130 million in total funding since its founding in 2020. The exact amount of the latest round has not been disclosed, but it is known to be at least $10 million and comes just five months after raising $82 million in a Series B led by Paradigm.
A significant portion of the funding was settled in the PayPal USD (PYUSD) stablecoin using Mesh’s own technology, which enables instant transfers between investors and the company. This operational use demonstrated the potential of its infrastructure to move capital immediately and securely.
The company developed an orchestration engine called SmartFunding, designed to eliminate the mismatch between the cryptocurrency a buyer wants to use and the stable asset a merchant prefers. The solution supports more than 100 cryptocurrencies and integrates with wallets and exchanges such as Coinbase, Binance, ByBit, and OKX, giving it reach to hundreds of millions of users. Merchants receive payments in stablecoins or fiat instantly.
Mesh Works on a Global, Instant, and Secure Payments System
Among its key implementations is PayPal’s “Pay with Crypto” service, which enables payments with multiple cryptocurrencies from compatible wallets. Mesh also added support for RLUSD, Ripple’s stablecoin. The company states that these integrations aim to make everyday cryptocurrency use in commercial transactions more practical.
The newly raised capital will be used to expand product development, scale APIs, and connect its technology with hundreds of payment and crypto platforms. The goal is to create a network where any user can pay with any digital asset while merchants receive fast and stable settlement.
The crypto market has over 650 million users and an estimated value of $3 trillion. Within this ecosystem, stablecoins have a market capitalization exceeding $200 billion and annual transaction volumes above $27.6 trillion. Mesh aims to leverage this liquidity to offer a global payment system that combines flexibility for consumers with stability for merchants
