Mesh Raises $22M in Series A to Bolster its Embedded Crypto Platform
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Mesh, a fintech solution that enables crypto transfers and payments, has raised $22 million in Series A funding.
Galaxy, Samsung Next and other prominent angel investors joined the round. The company will use the new funds to expand globally.
Mesh, a platform that provides digital asset management solutions, has raised $22 million in Series A funding. Money Forward, Inc. led the round, with participation from new investors including Galaxy and Samsung Next.
Existing angel investors including Arash Ferdowsi (the Co-founder of Dropbox), Valon Capital, Matt Ocko (the Founding GP of DCVC), Gokul Rajaram (Board Member of Coinbase and GP at Firebolt VC) and other VCs also joined the round.
The investment brings Mesh’s total funding to over $32 million. The company plans to use the new funds to further develop use cases like deposits, payments, and payouts and expand globally.
“We are witnessing a massive shift in which consumers are demanding complete and transparent control over their assets, and expecting the financial services that they use to give them that control,” Bam Azizi, Co-Founder and CEO of Mesh, said in a statement. “Embedded finance is going to be a $7 trillion market opportunity.”
Mesh, formerly known as Front Finance, is an enterprise-focused financial platform that claims to enable “safer and easier” crypto transfers and payments from more than 300 exchanges and wallets.
The company’s website states that end users can authenticate themselves on external exchanges or wallets and transfer assets directly to financial enterprises. The company asserts that it enables financial institutions to connect with their users’ financial accounts, facilitating key functions such as ‘write’ and ‘transfer.
Mesh’s products provide enterprise clients with the ability to enable digital asset transfers, crypto payments, account aggregation and registered securities trading, all within its platform.
“Embedded crypto and finance will be a key driver for building the modern financial user experience,” added Mike Giampapa, General Partner of Galaxy’s Venture team.
Mesh claims it has partnered with more than 70 companies across finance and digital assets within a year of pivoting to becoming an enterprise-focused platform. Its products can be integrated with popular wallets and exchanges including Metamask, Coinbase, Binance, amongst others.
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