MoonPay Secures 16% of $87M Raised Investment From High Profile Celebrities

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  • A portion of the funding was used to extend MoonPay’s NFT Checkout product offering.
  • VCs invested a record $30 billion in cryptocurrency businesses last year.

In a recently concluded investment round, MoonPay said today that it had received $87 million from 60 high-profile investors. Participation in the fundraising by well-known celebrities accounted for 16% of the total money donated.

MoonPay’s celebrity supporters include Justin Bieber, Bruce Willis, Maria Sharapova, and Snoop Dogg. The list also includes Ashton Kutcher and Gwyneth Paltrow. In light of the recent rise in celebrity interest in blockchain ideas like Web3 and non-fungible tokens, this fresh capital infusion is not surprising.

Series A investment Round

MoonPay is a cryptocurrency payment infrastructure startup that allows customers to buy digital assets directly using credit/debit cards straight from the platform. More than 250 wallets, websites, and apps use the network, accessible in more than 160 countries. MoonPay received $87 million in financing as part of its Series A investment round. The firm was valued at $3.4 billion and had also attracted $555 million in funding in November. A portion of the funding was used to extend MoonPay’s NFT Checkout product offering, including partnerships with well-known industry players such as OpenSea, Michael Jordan’s Heir Jordan, Tom Brady’s Autograph, and FaZ.

Crypto businesses have gained a lot of attention from investors recently. In part, this is due to the fact that the crypto sector is still new and has a lot of potential for development. According to CryptoQuant’s research, VCs invested a record $30 billion in cryptocurrency businesses last year, surpassing all prior years combined. ConsenSys, a blockchain software startup, raised $450 million in a Series D fundraising round in March, valuing the business at $7 billion.

An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.