Crypto payments startup Mesh has achieved unicorn status. The company raised $75 million in a Series C funding round, valuing it at $1 billion.
The round, which closed in January 2026, was led by Dragonfly Capital. Participants included Paradigm, Coinbase Ventures, and others. This brings Mesh's total funding to over $200 million since its 2020 founding.
Mesh builds the underlying infrastructure for crypto payments. Its technology connects transactions across various wallets, exchanges, and blockchains. Users and merchants do not need to know which specific token or network is used.
A key example of its work is powering PayPal's "Pay with Crypto" feature. This connects PayPal's massive user base to the broader crypto settlement layer.
The company's previous Series B round in March 2025 raised $82 million. A significant portion of that round was settled in PayPal's PYUSD stablecoin.
Investor Coinbase Ventures' participation is notable. Coinbase has its own payments ambitions. Backing a neutral infrastructure provider suggests the market is large enough for different approaches.
Mesh's investor base, including both Coinbase Ventures and PayPal Ventures, shows the company is actively working to diversify its major partnerships.