The Venture Codex

Participated · Series A · Sep 2023

Founded in 2020 and based in San Francisco, Mesh operates a crypto payments and settlement layer—branded SmartFunding—that routes payments across wallets, chains and assets so merchants receive instant stablecoins or local currency. The company reports reaching 900 million users through integrations with exchanges, wallets and financial platforms and counts partners such as Ripple, Paxos and Rain; it added support for Ripple’s dollar stablecoin and an integration with Apple Pay. Financially, Mesh had raised over $200 million prior to the reported round, including a $82 million Series B in March 2025 and a $75 million Series C on January 27, 2026 that brought it to a $1.0 billion valuation. Axios reports Binance is preparing to lead a new financing that could value Mesh at up to $2.0 billion, a move described as strategically focused on payments infrastructure rather than token trading. When announcing its Series C, Mesh said it would deploy capital to expand in Latin America, Asia and Europe, with India highlighted as a priority market.