Mesh Raises $75M Series C at $1B Valuation as Focus Shifts to Stablecoin Payments
Mesh, a San Francisco–based crypto payments infrastructure provider founded in 2020, raised $75 million in a Series C round led by Dragonfly Capital, valuing the company at $1 billion and taking total funding to roughly $200 million. Participants included Paradigm, Moderne Ventures, SBI Investment, Coinbase Ventures and Liberty City Ventures. Part of the round was settled in stablecoins. Mesh builds an interoperability layer connecting wallets, exchanges and payment platforms to enable low-cost, any-to-any payments and instant settlement in stablecoin or fiat. The company claims integrations reaching more than 900 million users via exchanges, wallets and financial platforms and has partnerships with firms including Ripple (USD stablecoin), Paxos and Rain. Proceeds will fund faster product development and geographic expansion across Latin America, Asia (including a recent entry into India) and Europe, with an emphasis on low fees and faster settlement. CEO Bam Azizi framed the raise as evidence of a market shift from token issuance toward usable payments infrastructure; Dragonfly partner Rob Hadick highlighted Mesh’s frictionless any-to-any model as key to scaling crypto payments. The round follows Mesh’s $82 million Series B in 2024 and positions the company among the better-funded crypto payments infrastructure players.
Bullish
This funding round is bullish for Mesh’s native business and related stablecoin payment rails. A $75M Series C at $1B valuation — with part of the round settled in stablecoins — signals strong investor conviction in payments infrastructure over speculative token issuance. For traders, the immediate effect on market prices of unrelated tokens is likely limited, but the news supports continued institutional and commercial adoption of stablecoin settlement and B2B crypto payment solutions. Short-term: modest positive sentiment for firms and tokens tied to on‑chain payments and stablecoin ecosystems (e.g., stablecoin issuers and payment rails); potential increases in partnership announcements and commercial integrations that can lift usage metrics. Long-term: increased adoption of any-to-any, low-fee settlement could expand stablecoin transaction volume and drive greater demand for settlement-layer services, favoring projects that provide liquidity, custody and rails (beneficial for tokens tied to those services). Risks remain: regulatory pressure on stablecoins and payments could dampen impact. Overall, this is a constructive development for crypto payments infrastructure and stablecoin utility, which traders should view as a bullish catalyst for related sectors rather than a direct price driver for major base-layer tokens.