PayPal, Coinbase, SBI Back Crypto Payments Startup Mesh in $130M+ Funding Round

Mesh, a crypto payments infrastructure company, has raised additional funding from PayPal Ventures and other investors, bringing its total funding to more than $130 million as the startup capitalizes on growing enterprise demand for seamless cryptocurrency transactions.

The funding round included PayPal Ventures, Coinbase Ventures, Uphold, Mirana Ventures, SBI Investment, and several other strategic investors. Notably, most of the investment was settled using PayPal USD (PYUSD) stablecoin, demonstrating the practical application of Mesh's technology for institutional transactions, the startup said Thursday in a statement .

The funding positions Mesh to expand its API offerings and accelerate product development as more traditional payment companies integrate cryptocurrency capabilities.

The investment comes as Mesh plays a key role in PayPal's recently launched Pay with Crypto service, which enables consumers to pay merchants using over 100 different cryptocurrencies and wallets. The integration gives PayPal's merchant network access to what Mesh estimates is a $3 trillion crypto market encompassing 650 million users globally.

Mesh's SmartFunding technology addresses a fundamental friction in crypto commerce by allowing users to pay with any digital asset while merchants receive instant settlement in stablecoins or fiat currency. This solves the common mismatch where consumers hold different cryptocurrencies than what merchants prefer to accept.

"We're building a bridge between users and merchants with a payments experience that people actually want, creating a world where anyone can pay with any asset, anytime," said CEO and co-founder Bam Azizi.

Mesh has integrated with major exchanges including Coinbase, Binance, ByBit, and OKX, potentially reaching hundreds of millions of users. With stablecoins processing $27.6 trillion in annual transaction volume and maintaining a $200 billion market cap, the infrastructure layer Mesh provides has become increasingly valuable for enterprises seeking to tap into crypto liquidity.

PayPal Ventures partner Amman Bhasin said Mesh has demonstrated the "security, compliance, and scalability that enterprises demand" as cryptocurrency payments move toward mainstream adoption.