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MoonPay closes historic funding round

The funding will be used to invest in global expansion and world-class talent.

22 Nov 2021by Geoffrey Lyons

Today marks a major milestone for MoonPay. At just two and a half years old, we’ve closed our $555 million Series A financing round, bringing our post-money valuation to $3.4 billion. This is the largest and highest valued Series A for any bootstrapped crypto company globally.

This equity-only round, led by Tiger Global Management and Coatue, with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA, will be used to continue our remarkable growth, enabling us to accelerate international expansion and broaden our world-class team. Most importantly, it will bring us significantly closer to achieving our mission of giving the next billion people access to cryptocurrency by 2030.

For those who don’t know much about us, our payment infrastructure provides a simple entry point into the cryptocurrency market by allowing people to convert traditional fiat currencies to cryptocurrencies using all major payment methods. Used by leading companies such as Bitcoin.com (whose MoonPay integration helped scale its revenue by more than 500% in just three months), we provide all the tools and licenses required to quickly access the crypto economy. This includes Know Your Customer checks, payment processing, crypto liquidity and delivery, fraud prevention, and custom checkout flows.

Beyond cryptocurrencies, MoonPay’s NFT (non-fungible token) solution has been gaining traction in the fast-growing NFT space. Companies like OpenSea, the largest marketplace for NFTs, rare digital items, and crypto collectibles, trust MoonPay to provide users a simple, fast and safe way to buy and sell any NFT.

Since our 2019 inception, MoonPay has:

  • Processed more than $2bn in transactions
  • Built a customer base of more than 7 million users
  • Secured more than 250 partners across 160 countries

We’ve also expanded our list of accepted currencies to over 30 fiat and 90 cryptocurrencies, and in just the last two years we’ve seen an extraordinary 35x growth in transaction volume.

“MoonPay is the world’s largest provider of crypto payments infrastructure that enables any organization to bridge traditional finance and crypto,” said MoonPay co-founder and CEO Ivan Soto-Wright. “We set out to democratize access to the crypto economy by providing the tools for businesses to onboard new users with magical product experiences. We are on a mission to help billions of people access trillions of dollars of digital value over the next decade and beyond.” (Click here for further comments from Ivan).

Kris Fredrickson, managing partner at Coatue, added: “We are excited about the opportunity in crypto, but one of the challenges to mainstream adoption is offering the same seamless experience that users have come to expect from modern internet products. MoonPay has impressed us with its product, infrastructure, and execution. We think that the crypto economy today is growing faster than the internet was at a similar stage of its development and that MoonPay is well-positioned to serve crypto-native innovators and those in traditional finance.” 

As we enter 2022, our aim is to continue this exceptional growth so that we remain the leading company powering the crypto economy. Only two and a half years have passed since our launch — we can’t wait to see what the next few years will bring.