Crypto payments infrastructure company Mesh has reached unicorn status after closing a US$75 million Series C funding round that valued the San Francisco–based startup at $1 billion, underscoring growing investor confidence in blockchain-based payment systems designed to support real-world use.
The funding round was led by Dragonfly Capital, with participation from prominent venture firms including Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment and Liberty City Ventures. The new capital brings Mesh’s total funds raised to more than $200 million since its founding in 2020.
According to company announcements, a portion of the US$75 million Series C raise was settled using stablecoins as a demonstration of blockchain-native infrastructure being ready for “high stakes, real-world use,” reflecting how digital assets are increasingly used not just as products but as settlement mechanisms.
Mesh operates a unified crypto payments network that connects wallets, exchanges and financial services platforms to enable borderless tokenised payments. The platform supports any-to-any payments, meaning users can pay with any digital asset they hold, while merchants receive settlement instantly in the stablecoin or fiat currency of their choice, a design aimed at bypassing the slow settlement times and high fees of legacy payment systems.
The Series C funds are earmarked to accelerate Mesh’s global expansion, particularly across Latin America, Asia and Europe, and to support ongoing product development and network scaling. The company’s network already integrates with major players and is reportedly accessible to more than 900 million users worldwide through strategic partnerships and platform integrations.
Mesh’s co-founder and CEO Bam Azizi has framed the funding and valuation milestone as evidence of a broader industry shift from speculative token launches toward infrastructure that enables practical, scalable blockchain payments, infrastructure that could challenge traditional card rails and payment networks over the next decade.
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