Crypto Payments Startup Mesh Hits $1 Billion Unicorn Valuation

Mesh, a crypto payments network, announced Tuesday that it has raised $75 million in Series C funding, reaching a $1 billion valuation with over $200 million in total capital raised to date.

Dragonfly Capital led the latest round that crowns Mesh as the latest crypto “unicorn” with a billion-dollar valuation, joined by Paradigm, Coinbase Ventures, Moderne Ventures, SBI Investment, and Liberty City Ventures.

Mesh’s infrastructure aims to solve crypto's fragmentation headaches, creating a unified payment network that bypasses traditional finance's slow settlements and high fees. Mesh connects different wallets, blockchains, and digital assets to function as a single system.

The company said that the funding will accelerate Mesh's expansion into Latin America, Asia, and Europe, building on recent moves into India and partnerships with Ripple, Paxos, and Rain. According to its website, Mesh has worked with the likes of PayPal, Revolut, and more, claiming about $10 billion per month in payments volume.

"Crypto is crowded by design, with new tokens and new protocols emerging every day," said Mesh co-founder and CEO Bam Azizi, in a press release. "That fragmentation creates real friction in the customer payment experience. We are focused on building the necessary infrastructure now to connect wallets, chains, and assets, allowing them to function as a unified network.”

“This funding validates that the winners of the next decade won't be those who issue the most tokens,” he added, “but those who build the network of networks that makes traditional card rails obsolete."

Mesh has positioned itself as a key piece of the growing stablecoin boom, helping to bridge the gap between assets that operate on varying blockchain networks. Its “SmartFunding” tech lets consumers pay with any cryptocurrency while merchants receive instant settlement in their preferred stablecoin or fiat currency.

Part of the Series C funding was settled using stablecoins, the company said.

"Payments are entering a new era where value moves as software,” said Dragonfly General Partner Rob Hadick, in a release. “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.”