Mesh has officially joined the unicorn club after closing a $75 million Series C round that values the crypto payments network at $1 billion.
The financing was led by Dragonfly Capital and included participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment and Liberty City Ventures, Mesh said on Tuesday. Part of the round was even settled in stablecoins — a deliberate move the company says demonstrates its infrastructure is ready for high-stakes, real-world use.
Mesh positions itself as a connective layer for crypto commerce, tackling the fragmentation that slows payments and raises costs under traditional finance. Its asset‑agnostic system lets consumers pay with any crypto they hold while enabling merchants to receive instant settlement in their preferred stablecoin. That combination aims to eliminate slow settlements and high fees that can hamper broader merchant adoption.
“Fragmentation creates real friction in the customer payment experience,” co‑founder and CEO Bam Azizi said. “We are focused on building the necessary infrastructure now to connect wallets, chains, and assets, allowing them to function as a unified network.”
The deal — and Mesh’s new unicorn status — underscores investors’ continued appetite for payments infrastructure, even amid a subdued spot market. Backers appear to be betting that robust, interoperable rails are essential to realizing crypto’s promise of faster, cheaper global payments.
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