Dragonfly Capital and Paradigm Invest in Mesh’s $75 Million Series C at $1 Billion Valuation

Gunderson Dettmer represented Dragonfly Capital as the lead investor in the $75 million Series C financing of Mesh, a leading crypto payments network, bringing its total amount raised to over $200 million and valuing the company at $1 billion. Gunderson Dettmer client Paradigm also participated in the round alongside Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures.

Mesh connects hundreds of exchanges, wallets, and financial services platforms to enable seamless digital asset payments and conversions, creating an open, connected, and secure ecosystem for digital finance. The round accelerates Mesh's expansion into Latin America, Asia, and Europe, fueling product development and strengthening a global network that already reaches more than 900 million users worldwide.

“Payments are entering a new era where value moves as software,” said Rob Hadick, General Partner at Dragonfly, in the announcement of the transaction. “Mesh is building the interoperability layer that makes crypto practical at scale: consumers can spend any asset, merchants can settle instantly in the stablecoin or fiat they want, and the complexity stays under the hood. That ‘any-to-any’ experience is exactly what mainstream adoption demands, and we're excited to lead this round as Mesh becomes the universal network for global, compliant crypto payments.”

The Gunderson deal team representing Dragonfly was led by Ibrahim Elshamy and Anand Mehta and included Aaron Fiske and Allyson Kaleita. The Gunderson deal team representing Paradigm was led by Damon Zhangchai and included Megan Wiener.

Companies
Dragonfly Capital
Paradigm
Mesh