Crypto payments infrastructure startup Mesh has secured additional backing from investors including PayPal Ventures and Coinbase Ventures, pushing its total funding beyond $130 million. While the exact size of this latest round remains undisclosed, it represents at least $10 million in new capital—coming just five months after Mesh's $82 million Series B led by Paradigm in March.
Notably, a portion of the investment was settled in PayPal USD (PYUSD) stablecoin, demonstrating Mesh's own instant crypto transfer technology. The company's platform enables consumers to pay with over 100 cryptocurrencies while ensuring merchants receive instant settlement in stablecoins or fiat. Its proprietary SmartFunding engine resolves payment mismatches by automatically converting assets at the point of sale.
Mesh's infrastructure powers PayPal's "Pay with Crypto" service and integrates with major exchanges like Coinbase, Binance, and OKX—providing access to hundreds of millions of users. Earlier this week, Mesh added support for Ripple's RLUSD stablecoin, expanding its stablecoin offerings to 50+ tokens. RLUSD joins PYUSD as a 1:1 dollar-pegged settlement option backed by U.S. Treasuries and cash equivalents.
CEO Bam Azizi stated: "We are set to do for crypto payments what Visa and Mastercard did for card transactions—building the first truly global payments network." The new funds will accelerate product development and expand integrations across crypto and traditional payment platforms.
