Crypto fintech startup MoonPay has reportedly finalized the firm’s first venture capital round, hitting $3.4 billion for post-money valuation.
Specifically, the company reportedly issued an official announcement on November 22nd, sharing the successful status of a recently concluded Series A fundraising that helped it reel in $555 million in financial support.
The funding round was reportedly led by top-tier names across the sector, nominally US-based Tiger Global and tech-centric investment manager Coatue.
The round further witnessed participation from Blossom Capital, Thrive Capital, Paradigm and the New Enterprise Associates venture capital firm.
The freshly surfaced capital injection will be the first fundraising MoonPay carried out, since the firm was established two years ago (2019), by two young entrepreneurs, Ivan Soto-Wright and Victor Faramond.
The company reportedly revealed that it has finalized the processing of over $2 billion in transactions and exceeded the 7 million benchmark in users base.
The fintech entity reportedly revolved primarily around offering payments infrastructure for crypto, as well as supporting crypto-to-fiat transactions for 30 fiat currencies and over 90 cryptocurrencies such as Bitcoin (BTC).
Per the announcement, MoonPay’s fiat-to-crypto on-ramp reportedly caters to more than 250 crypto applications, websites and wallets, including Bitcoin.com, spanning its scope throughout 160 nations.
Aside from providing classic crypto services, MoonPay further released a native nonfungible token (NFT) solution, which lets users purchase and sell NFTs.