Crypto payments infrastructure provider MoonPay has hit a $3.4 billion valuation off the back of a $555 million Series A funding round led by Tiger Global Management and Coatue.
Blossom Capital, Thrive Capital, Paradigm, and NEA joined the round, the proceeds of which will be used to expand MoonPay's global footprint and hire talent.
MoonPay provides firms in the crypto space KYC, payment processing, liquidity and delivery, fraud prevention, regulatory licenses, ecosystem identity verification, and custom checkout flows.
Founded less than three years ago, the firm's fiat-to-crypto on-ramp powers more than 250 wallets, websites and applications in more than 160 countries and has processed more than $2 billion in transactions to date.
The company has also made a move into NFTs, where marketplaces such as OpenSea trust it to provide users a simple, fast and safe way to buy and sell any digital asset.
Ivan Soto-Wright, CEO, MoonPay, says: “We set out to democratise access to the crypto economy by providing the tools for businesses to onboard new users with magical product experiences. We are on a mission to help billions of people access trillions of dollars of digital value over the next decade and beyond.”