The crypto-payments startup MoonPay has closed its first venture funding round at a valuation of $3.4 billion. The Information reports, citing its own sources.
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The $400 million round was led by Tiger Global Management and Coatue Management.
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The startup enables card payments to purchase cryptocurrency or other digital assets on platforms such as OpenSea, Bitcoin.com, Abra, ZenGo, Spot and Trust Wallet.
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Launched in 2019, MoonPay counts over five million users and supports more than 80 digital assets.
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The publication called the valuation reached by the startup in three years ‘staggering’, and the deal size ‘unusual’ for early-stage venture funding.
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Earlier, PricewaterhouseCoopers noted a broadening of venture-capital investment in the crypto industry.
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Earlier in September, Tiger Global led the funding round for the open-banking startup TrueLayer. Previously, the firm acquired stakes in the smart-contract auditor CertiK and the bitcoin exchange Coinbase.
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Coatue participated in the funding of Dapper Labs and invested in CertiK.
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