Crypto payments infrastructure company Mesh has raised $75 million in a Series C funding round, bringing its total funding to over $200 million and valuing the company at $1 billion. The round was led by Dragonfly Capital, with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures.
The funding signifies a strategic shift in investor focus, moving away from speculative token launches toward the foundational infrastructure required for real-world crypto adoption. Mesh positions itself as a unified network designed to connect the fragmented global payments landscape and reduce reliance on traditional, slow, and expensive settlement systems.
Co-founder and CEO Bam Azizi described the current crypto ecosystem as "crowded by design," with constant new tokens and protocols creating user friction. Mesh aims to be the connective layer that allows wallets, blockchains, and digital assets to function as one unified system, arguing that future winners will be those building interoperability rather than issuing new assets.
The new capital will fuel Mesh's expansion into key global markets, including Latin America, Asia, and Europe, alongside continued product development. The company's network already reaches more than 900 million users worldwide. It has specifically targeted India, citing the country's young digital population and over $125 billion in annual remittance market.
Mesh is tackling what it calls the "stablecoin paradox"—the rapid growth of stablecoins to a $300 billion market cap processing over $27 trillion in annual volume, alongside renewed fragmentation and isolated liquidity pools. Its SmartFunding technology enables an "any-to-any" payment experience, allowing consumers to pay with assets like Bitcoin or Solana while merchants receive instant settlement in stablecoins such as USDC or PYUSD, or in fiat currencies.
Notably, part of the Series C round itself was settled using stablecoins, a move Mesh says signals growing institutional comfort with blockchain-native payment rails and demonstrates the enterprise readiness of its infrastructure.
