Crypto Payments Network Mesh Secures $75M Series C, Achieving a $1 Billion Valuation

Funding Web3

Crypto payments platform Mesh has successfully completed a $75 million Series C funding round, raising its overall funding to over $200 million and giving it a valuation of $1 billion. This funding round was led by Dragonfly Capital with contributions from prominent investors including Paradigm, Coinbase Ventures, and others. Mesh aims to enhance real-world crypto adoption by providing a seamless payments infrastructure.

Key Takeaways

Mesh raised $75 million in Series C funding, valuing the company at $1 billion.
The funding round was led by Dragonfly Capital and includes several renowned investors.
Mesh focuses on connecting a fragmented global payments landscape and reducing dependency on traditional payment methods.
The company aims to support its expansion into key markets such as Latin America, Asia, and Europe.
Mesh addresses issues in stablecoin liquidity and offers an “any-to-any” payment experience through its SmartFunding technology.

Building a Unified Borderless Payments Layer

Mesh is dedicated to solving the inefficiencies of traditional payment systems that suffer from slow processing times and high fees. The network facilitates crypto-native transactions across multiple chains and asset types. According to co-founder and CEO Bam Azizi, the crypto space is “crowded by design,” which creates hurdles for users due to the constant influx of new tokens and protocols. Mesh envisions creating a cohesive layer that enables wallets, chains, and assets to operate as a single integrated system. The company believes that future market leaders will focus on building interoperability instead of simply creating new assets.

Expanding into Global Markets

The funds raised in the Series C round will be allocated to Mesh's growth initiatives in regions such as Latin America, Asia, and Europe, alongside ongoing product enhancements. Currently, Mesh’s network has reached over 900 million users worldwide. The company has already ventured into India, highlighting the country's youthful digital demographic and the impressive $125 billion it generates in annual remittances. Additionally, Mesh has introduced support for Ripple USD and established partnerships with Paxos and Rain, demonstrating its commitment to developing a robust stablecoin-based payment infrastructure.

Addressing the Stablecoin Fragmentation Challenge

Mesh is positioning itself as a key player in resolving the “stablecoin paradox”—the impressive growth of stablecoins contrasted with increasing fragmentation. In 2025, the stablecoin market surged to a $300 billion valuation, processing over $27 trillion in annual transactions. Despite this growth, liquidity remains dispersed across various ecosystems. Mesh’s innovative SmartFunding technology enables users to engage in an “any-to-any” transaction experience, allowing consumers to pay with cryptocurrencies like Bitcoin or Solana while ensuring merchants receive immediate settlements in stablecoins such as USDC or PYUSD, or even fiat currencies. Interestingly, a portion of the Series C round was transacted using stablecoins, indicating a rising level of institutional acceptance for blockchain-based payment systems.