MoonPay rides the crypto wave with $555m all-equity Series A round

Global crypto payments infrastructure provider, MoonPay, has closed a $555 million Series A financing round. This has been led by Tiger Global Management and Coatue, with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA.

The MoonPay team

The round brings the company’s post-money valuation to $3.4 billion a mere two and a half years after its inception.

The company says the equity-only round will be used to rapidly accelerate global expansion, add resources, and support additional innovations in the crypto economy. This will further its stated mission to give the next billion people access to cryptocurrencies by 2030.

MoonPay’s payment infrastructure interface provides an entry point into the cryptocurrency market by allowing people to transact from traditional fiat currencies to cryptocurrencies using different payment methods including debit and credit cards, local bank transfers, Apple Pay, Google Pay, and Samsung Pay. It is deployed by leading crypto companies such as Bitcoin.com.

MoonPay’s interface offers know your customer (KYC) checks, secure payment processing, access to crypto liquidity and delivery, fraud prevention and custom checkout flows.

Beyond crypto, MoonPay has a non-fungible token (NFT) solution, with users including such as OpenSea, the largest marketplace for NFTs, rare digital items and crypto collectibles.

Since its arrival in 2019, MoonPay has processed more than $2bn in transactions; gained more than 250 partners (wallets, websites, and applications and others) across 160 countries; facilitated over 30 fiat currencies and over 90 cryptocurrencies; and built a customer base of more than seven million users. It claims to have been profitable since the outset.

Ivan Soto-Wright, co-founder and CEO of MoonPay, says: “MoonPay is the world’s largest provider of crypto payments infrastructure that helps any organisation bridge traditional finance and crypto. We set out to democratise the crypto ecosystem by creating a foundation that helps entrepreneurs around the world accelerate their time to market from twelve months or more to a matter of weeks.”