TLDR
- Mesh received new funding from PayPal Ventures, Coinbase Ventures, Uphold, Mirana Ventures, and others.
- The company has now raised over $130 million since its founding in 2020.
- The latest round is worth at least $10 million and comes five months after its $82 million Series B.
- Part of the funding was settled in PayPal USD using Mesh’s own instant transfer technology.
- Mesh developed SmartFunding to match buyer cryptocurrencies with merchant stable assets.
Mesh secured fresh investment from PayPal Ventures, Coinbase Ventures, Uphold, Mirana Ventures, SBI Investment, Overlook Ventures, Kingsway Capital, Moderne Ventures, and CE-Ventures. Since its launch in 2020, the company’s total funding has now surpassed $130 million. The latest round is at least $10 million and follows a $82 million Series B led by Paradigm.
PayPal-Backed Round Highlights Stablecoin Use
A significant portion of the round was settled in PayPal USD (PYUSD) using Mesh’s own infrastructure. This allowed instant transfers between investors and the company without relying on traditional settlement systems. Mesh stated that this transaction demonstrated the practical speed and security of its payment technology.
The company developed an orchestration engine named SmartFunding, which solves the mismatch between a buyer’s chosen cryptocurrency and a merchant’s preferred stable asset. The system supports over 100 cryptocurrencies and integrates with wallets and exchanges such as Coinbase, Binance, ByBit, and OKX. Merchants can receive instant settlement in stablecoins or fiat currency.
Mesh’s technology already powers PayPal’s “Pay with Crypto” feature, enabling payments in multiple cryptocurrencies from compatible wallets. The company also added support for RLUSD, Ripple’s stablecoin, expanding its supported payment options. “We aim to make crypto spending as seamless as possible,” a Mesh spokesperson said.
Expanding API Reach Across Payment Platforms
The new funding will accelerate Mesh’s product development and API scaling. The company plans to integrate its technology with hundreds of payment and crypto platforms. This will allow users to pay with any digital asset while merchants receive stable and quick settlements.
Mesh sees significant potential in the growing cryptocurrency market, which has over 650 million users and a value near $3 trillion. Stablecoins alone have a market capitalization above $200 billion and annual transactions exceeding $27.6 trillion. PayPal’s continued involvement reflects confidence in Mesh’s approach to leveraging stablecoin liquidity.
By connecting more platforms, Mesh aims to create a payment network that combines consumer flexibility with merchant stability. PayPal’s partnerships within this strategy may strengthen stablecoin adoption in everyday transactions.
