Total amount raised
$650.7 Millions
Latest funding date
9/1/2023
Location
MoonPay has successfully raised significant funding over multiple rounds, establishing itself as a key player in the fintech space. The platform offers seamless payment infrastructure for converting fiat currencies into cryptocurrencies and NFTs.
Keep reading to explore the intricacies of MoonPay's fundraising journey and the investors backing this innovative platform.
What Is MoonPay?
MoonPay, founded in 2019, is a fintech company based in Dover, Delaware. The company was established by Ivan Soto-Wright, Max Crown, and Victor Faramond. MoonPay employs between 251 and 500 people.
MoonPay's platform enables users to purchase cryptocurrencies and NFTs using various payment methods, including credit and debit cards, local bank transfers, Apple Pay, and Google Pay. The company operates on a non-custodial model, meaning it does not hold customer funds, thereby granting users greater control over their digital assets.
With a focus on security and compliance, MoonPay integrates with over 440 partners to provide seamless transactions for millions of users worldwide.
How Much Funding Has MoonPay Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and establish market presence.
- Series A
- Amount Raised: $555M
- Date: November 2021
- Lead Investors: Coatue, Tiger Global Management
- Valuation at Round: $3.4 billion
- Motivation Behind the Round: To fund new products and expansion, with aspirations to go public.
- Series A Extension
- Amount Raised: $87M
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support product development and market expansion.
- Venture Round
- Amount Raised: $5.7M
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand user base.
- Venture Round
- Amount Raised: $3M
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and improve service offerings.
Total Amount Raised: $650.7M. Current Valuation: $3.4 billion.
Key Investors
- Tiger Global
- Details: Tiger Global is a prominent investment firm that focuses on private and public companies in the global internet, software, consumer, and financial technology industries. They have a strong track record of backing high-growth companies.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify, Stripe.
- Coatue
- Details: Coatue is a global technology-focused investment manager that invests in public and private equity markets. They are known for their deep expertise in the technology sector.
- Investment Focus Areas: Technology, media, telecommunications, consumer.
- Notable Investments: Snap, DoorDash, ByteDance.
What's Next for MoonPay?
MoonPay stands at the cusp of significant opportunities, particularly in expanding its platform to include digital fashion and tokenized stocks. With a user base of over 7 million and a valuation of $3.4 billion, the potential for growth is immense. The closure of AltFi also opens doors for MoonPay to venture into fintech journalism, filling a notable gap in the market.
Future fundraising efforts could be bolstered by the company's aspirations to go public, attracting further venture capital interest. However, challenges such as regulatory scrutiny and competition from established fintech giants like PayPal could pose hurdles. Navigating these obstacles will be crucial for MoonPay's continued success.
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