MoonPay’s first round of funding is going to be incredibly successful. The Information reports that MoonPay will reach a $3.4 billion valuation.
MoonPay is a crypto payments infrastructure provider, and they’re making crypto payments accessible to everyone. In its first funding round, MoonPay is expected to receive a valuation of $3.4 billion, reports The Information.
Among the co-leads is Tiger Global Management and Coatue Management. The firm’s valuation is unusually high for a three-year-old startup.
Easily Accept Cryptocurrency Payments With MoonPay
Customers can purchase crypto or other digital assets using credit cards through MoonPay on marketplaces like OpenSea, Bitcoin.com, Abra, ZenGo, Spot, and Trust Wallet. The startup was launched in 2019 and has over five million users and supports more than 80 digital assets.
As a way to gain exposure to the cryptocurrency industry, firms such as Coatue and Tiger Global have been investing in mid-size crypto companies generating revenue, according to analysis from The Block Research.
Tiger Global also backed TrueLayer, an open banking startup, and Public.com, a neobroker.
Earlier this year, Coatue invested $305 million in Dapper Labs, the developer of the Flow blockchain, in addition to investing 80 million in Alchemy, the NFT and DeFi development platform.
A fiat onramp to Flow blockchain and easier access to NFT marketplaces were provided by MoonPay and crypto wallet provider Blocto last month.
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