Crypto startup MoonPay raises $555M to hit $3.4B valuation

Cryptocurrency fintech startup MoonPay has closed its first-ever enterprise capital spherical, reaching $3.4 billion in post-money valuation.

The agency introduced formally on Monday that it closed a $555 million Collection A funding spherical led by outstanding trade buyers like American funding agency Tiger World and tech-focused funding supervisor Coatue. Different contributors included Blossom Capital, Thrive Capital, Paradigm and the New Enterprise Associates enterprise capital agency.

The raised capital is the primary funding secured by MoonPay for the reason that firm was based in 2019 by two younger entrepreneurs, Ivan Soto-Wright and Victor Faramond. The agency says it has processed greater than $2 billion in transactions and reached a buyer base of over 7 million customers.

The fintech agency is concentrated on offering funds infrastructure for crypto and enabling crypto-to-fiat transactions for 30 fiat currencies and greater than 90 cryptocurrencies like Bitcoin (BTC). In response to the announcement, MoonPay’s fiat-to-crypto on-ramp permits over 250 crypto functions, web sites and wallets, together with, masking greater than 160 international locations.

Other than providing basic crypto companies, MoonPay additionally offers a local nonfungible token (NFT) answer that permits customers to purchase and promote NFTs. Final week, rapper Publish Malone promoted MoonPay in a music video with The Weeknd by shopping for two Bored Ape Yacht Membership NFTs for a mixed 160 ETH through the change.

Associated: TradingView completes new funding spherical with $3B valuation

With the brand new funding, the agency expects to proceed hiring new expertise and broaden its companies worldwide. In response to MoonPay co-founder and CEO Soto-Wright, the agency is positioning itself because the world’s “largest supplier of crypto funds infrastructure.”

MoonPay didn’t instantly reply to Cointelegraph’s request for remark.