MoonPay raises $555 million in Series A at a $3.4 billion valuation

The MoonPay crypto-payments infrastructure provider closed a Series A financing round worth $555 million. It was led by Tiger Global Management and Coatue, ForkLog representatives said.

Participants in the round included Blossom Capital, Thrive Capital, Paradigm and NEA. Based on its results, the two-and-a-half-year-old startup was valued at $3.4 billion.

The funding will be used to expand globally and grow the headcount.

According to the statement, the startup’s infrastructure provides an entry point to the crypto market, enabling fiat and digital assets to be traded, “using all major payment methods” with compliance to KYC procedures.

The MoonPay platform supports more than 30 fiat currencies and over 90 digital assets.

The company counts around 250 partners in 160 countries, and a customer base of at least 7 million users.

Since 2019, MoonPay has processed transactions totaling more than $2 billion. Over the last year, the figure demonstrated a 35-fold growth, the company noted.

“We think the crypto economy is growing faster than the internet at this early stage of development, and that MoonPay is well positioned to support innovations in both cryptocurrencies and traditional finance,” said Tiger Global partner John Curtis.

Earlier in October, reports noted that the startup had reached a $400 million milestone in venture funding.