Cryptocurrency payments start-up Moonpay hits $3.4bn

Cryptocurrency payments start-up Moonpay has raised $555 million at a valuation of $3.4 billion.

MoonPay was founded in 2019 by Ivan Soto-Wright and Victor Faramond.

The company provides infrastructure that allows users to exchange traditional fiat currencies and cryptocurrencies using payment methods such as debit and credit cards, Apple Pay, Google Pay, and Samsung Pay.

The all-equity Series A funding round was led by US investment firm Tiger Global and institutional investor Coatue.

Other participants in the round included Blossom Capital, Thrive Capital, Paradigm, and New Enterprise Associates.

Moonpay said the capital will be used to make new hires, expand its geographical coverage, and add additional payment methods.

The company said its platform supports over 90 cryptocurrencies and over 30 fiat currencies, and that it has facilitated transactions in over 90 cryptocurrencies and built a userbase of over 7 million.

The new comes after Winklevoss twin-founded crypto exchange Gemini raised $400 million at a valuation of $7.1 billion last week.

Bitcoin is currently trading at a valuation of $57,000.

    Share Story:

Recent Stories

Meet Evelyn, your Economic Sanctions/PEP/Adverse Media Alert Adjudication Analyst
Meet Evelyn, an Economic Sanctions/PEP/Adverse Media Alert Adjudication Analyst, who uses native AI/ML capabilities to automate the Customer/PEP screening and Negative News screening alert adjudication processes for leading BFS organizations with greater speed, accuracy, and consistency than human analysts.

New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.