Mesh Connect has officially joined the unicorn club. The five‑year‑old crypto infrastructure startup announced a $75 million funding round that values the company at about $1 billion — a sign that crypto payments are moving from niche experiments to mainstream commerce.
Dragonfly Capital led the round, with participation from Coinbase Ventures, Paradigm, Moderne Ventures and Liberty City Ventures. Investors say the deal was driven by a steep rise in crypto payment activity: Mesh now handles nearly $10 billion in transaction volume every month, a growth spurt Dragonfly general partner Rob Hadick pointed to as a key reason for backing the company.
Positioning itself as “Plaid for crypto,” Mesh builds the plumbing that lets exchanges, wallets and financial platforms talk to one another. Its technology enables merchants and payment providers to accept wallet‑based payments from services such as Coinbase, OKX, Phantom and MetaMask, then automatically convert those crypto receipts into fiat or PayPal’s PYUSD stablecoin at checkout. PayPal is listed among Mesh’s marquee clients, using the service to widen merchant payment options without forcing customers or merchants to handle crypto settlement themselves.
Investors also credit a friendlier regulatory backdrop for the recent surge. The passage of the Genius Act in July — described by supporters as the first federal framework for stablecoins — has encouraged companies to build compliant, user‑friendly crypto payment products, according to market participants.
With fresh capital, Mesh plans to accelerate international expansion into Latin America, Asia and Europe, targeting local fintechs and payment platforms as its next growth engines. As wallet‑based payments scale, the company aims to be the connective tissue that makes crypto checkout as seamless as card or bank‑based options.
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