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


Launched in 2019, MoonPay says it has processed greater than $2 billion in transactions and hit 7 million customers thus far.

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

Cryptocurrency fintech startup MoonPay has closed its first-ever enterprise capital spherical, reaching $3.four billion in post-money valuation.

The agency introduced formally on Monday that it closed a $555 million Collection A funding spherical led by distinguished trade buyers like American funding agency Tiger International 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 line with the announcement, MoonPay’s fiat-to-crypto on-ramp allows over 250 crypto purposes, web sites and wallets, together with, overlaying greater than 160 nations.

Other than providing traditional crypto companies, MoonPay additionally supplies a local nonfungible token (NFT) resolution that enables customers to purchase and promote NFTs. Final week, rapper Put up Malone promoted MoonPay in a music video with The Weeknd by shopping for two Bored Ape Yacht Membership NFTs for a mixed 160 ETH by way of the alternate.

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

With the brand new funding, the agency expects to proceed hiring new expertise and increase its companies worldwide. In line with 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.

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