Mesh Secures $82M in Series B Funding, Led by Paradigm, with 66% Settled in Stablecoins
1min read Mesh, a crypto payments network, has successfully secured $82 million in Series B funding, with Paradigm leading the round. This investment brings Mesh's total funding to $120 million, reflecting significant interest and confidence in the potential of crypto payment solutions. The round saw participation from several notable firms, including ConsenSys, QuantumLight Capital, yolo Investments, and others. A notable aspect of this funding round is that most of the $82 million was settled using paypal USD (PYUSD), a USD-pegged stablecoin, underscoring the increasing utility of stablecoins in venture capital transactions.
Mesh's platform is designed to streamline transactions between users' crypto assets and merchants' settlement requirements, eliminating the need for users to swap assets in advance. For example, a user can pay with bitcoin, ethereum, or solana, while the merchant receives the equivalent value in PYUSD, USDC, or another stablecoin. This seamless integration of crypto payments with traditional settlement methods positions Mesh as a pioneer in the web3 payments system.
Bam Azizi, Co-Founder and CEO of Mesh, highlighted the company's vision to expand the first truly global crypto payments network. This network aims to allow users to pay with any crypto they hold while ensuring merchants can settle in the stablecoin of their choice, mirroring the convenience of fiat transactions. The company's current partners include Revolut, a crypto-friendly fintech firm, and Shift4, a U.S.-based payments firm, further validating Mesh's innovative approach to crypto payments.
The substantial investment in Mesh comes at a time when traditional payment systems face challenges, particularly in industries like construction where payment delays are common. Crypto payments offer a promising alternative, addressing issues such as delayed payments that affect cash flow and strain relationships within the supply chain. Mesh's funding round suggests that the company is well-positioned to capitalize on the shift towards digital payments, offering a solution that could streamline payment processes and enhance efficiency in various sectors.
The participation of prominent venture capital firms in Mesh's Series B round indicates a strong belief in the potential of crypto payments to disrupt traditional financial systems. The use of stablecoins like PYUSD in the funding round further emphasizes the growing acceptance of digital currencies in mainstream financial transactions. As more industries recognize the benefits of digital payments, companies like Mesh are likely to play a crucial role in driving this transformation, positioning themselves at the forefront of a broader shift 
