MoonPay, a crypto payments infrastructure provider, today announced it has closed a $555 million Series A financing round led by Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA.
The company’s fiat-to-crypto on-ramp powers more than 250 wallets, websites, and applications in more than 160 countries and has processed more than $2 billion in transactions to date.
“MoonPay is the world’s largest provider of crypto payments infrastructure that enables any organization to bridge traditional finance and crypto.”
– MoonPay Co-Founder & CEO Ivan Soto-Wright
Moonpay’s offering of KYC, payment processing, crypto liquidity, fraud prevention, regulatory licenses, ecosystem identity verification, and custom checkout flows support businesses so that they, in turn, can offer their customers the ability to buy and sell crypto-assets quickly in a very user-friendly way.
Furthermore, MoonPay also helps consumers establish an identity that, once verified, can be used across the entire MoonPay ecosystem without having to repeat the onboarding process.
Beyond crypto payments, MoonPay’s NFT (non-fungible token) solution has been gaining traction. Companies such as OpenSea, the largest marketplace for NFTs, rare digital items, and crypto collectibles, work with MoonPay to provide users a fast and safe way to buy and sell any digital asset.
This is part of a strategy to merge the creator economy with the crypto economy so that artists reap greater rewards from their hard work. Most recently, artists like Post Malone and celebrities like Jimmy Fallon have dipped their toes into the NFT space using MoonPay.
In just over the two years since it was founded, MoonPay has:
- Processed more than $2 billion in transactions
- Seen more than 35x growth in transaction volume
- Consistently achieved more than 30% monthly revenue growth
- Built a customer base of more than 7 million users
- Grown its partner ecosystem by more than 5x
- Facilitated more than 30 fiat currencies and more than 90 cryptocurrencies