San Fransisco based crypto payment network, Mesh, has announced closing a $82 million Series B funding round, bringing its total amount raised to over $120 million. In a first, most of the $82 million of investments were settled with PayPal USD (PYUSD) stablecoin.
The company is aiming to build first global crypto payments network with the funding. “Now, the company can further accelerate product development and the expansion of its APIs to power hundreds of crypto and payments platforms,” Mesh said.
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A Historical Precedent For Stablecoin Funding
According to the company PYUSD was leveraged to close funding instantly and Mesh’s technology was used to transfer the assets.
🚨 ⚡ Breaking: I’m proud to share that @meshconnectapi has raised $82 million in Series B funding to build the first truly global #crypto #payments #network – one that makes crypto as easy, seamless, and universal to use as fiat. Most of the investments were closed with PayPal… pic.twitter.com/IOSq2BYFZF
— Bam Azizi (@bamazizii) March 11, 2025
Commenting on the funding, Bam Azizi, CEO and Co-Founder of Mesh said, “Stablecoins present the single biggest opportunity to disrupt the payments industry since the invention of credit and debit cards, and Mesh is now first in line to scale that vision across the world.”
“With this funding, we’re expanding the first truly global crypto payments network – one that allows users to pay with any crypto they hold while ensuring merchants can settle in the stablecoin of their choice, just like they do with fiat today.” said Azizi.
Furthermore, the company said that the benefits of using stablecoins for VC funding are that it’s instant, cheap, transparent, and available 24/7.
“We think crypto and stablecoins will be an enormous transformation to payments,” said Charlie Noyes, General Partner at Paradigm. “Mesh makes paying with crypto as simple as using a credit card for users and merchants while preserving the benefits of transacting over blockchain rails.”
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Partners Include MetaMask, Shift4, Revolut
On 11 March 2025, Mesh revealed that the round was led by Paradigm. It also saw participation from Consensys (parent company of MetaMask), QuantumLight Capital (started by Revolut Founder & CEO Nik Storonsky), Yolo Investments, and others.
Mesh previously raised from investors including PayPal Ventures, Galaxy Ventures, and MoneyForward. Mesh’s list of partners includes MetaMask, Shift4, and Revolut.
The company said that it is on track to become an integral part of global payments as the industry moves towards a stablecoin-dominated ecosystem, with stablecoins already representing over a $200 billion market cap and surpassing $27.6 trillion in transaction volume in 2024.
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