Gunderson Dettmer Clients Co-Lead $555M Series A Financing of MoonPay

November 23, 2021Client News

Gunderson Dettmer represented clients Coatue and Tiger Global as they co-led the $555 million Series A financing of MoonPay, a digital payment platform. The company’s platform provides a payment infrastructure that allows users to convert between fiat currencies and cryptocurrencies using all major payment methods. MoonPay plans to use its new capital to accelerate international expansion and broaden its team.

In the announcement of the transaction, managing partner at Coatue Kris Fredrickson said, “We are excited about the opportunity in crypto, but one of the challenges to mainstream adoption is offering the same seamless experience that users have come to expect from modern internet products. MoonPay has impressed us with its product, infrastructure, and execution. We think that the crypto economy today is growing faster than the internet was at a similar stage of its development and that MoonPay is well-positioned to serve crypto-native innovators and those in traditional finance.”

The Gunderson deal team was led by partners Greg Volkmar and Michael Allers and associates Kathy Wang, Ruchir Patel, David Styles, Alexandra Guttman, and Evelina Yarmit.