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MoonPay Crypto News: 7 Things to Know About the Startup Hoping to Dethrone PayPal

In the crypto world, multi-billion dollar valuations aren’t anything abnormal anymore. Thus, for investors in MoonPay crypto, today’s headline news may not be so shocking.

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Source: shutterstock.com/Who is Danny

MoonPay announced today that the fintech startup has raised $555 million at a $3.4 billion valuation. This deal is one of a growth swath of crypto-related venture capital financing rounds that have swelled to epic proportions.

Of course, the crypto world is a fast-moving one. Investors appear to be enticed by companies that are able to raise money and hire at a rapid pace. And MoonPay is one such company generating a tremendous amount of attention right now.

Recently, the company’s rise to prominence has certainly interested many investors. Let’s dive into a few things investors may want to know about MoonPay right now.

What to Know About MoonPay Crypto

  • MoonPay is a fintech startup focused on providing payments infrastructure for the crypto sector.
  • The company claims to have processed more than $2 billion in transactions, with more than 7 million users on its platform.
  • Essentially, the company is looking to provide a fiat-to-crypto solution that’s user-friendly.
  • MoonPay hopes to take on big players such as PayPal (NASDAQ:PYPL) in this space.
  • The company recently raised $555 million in Series A funding.
  • Among the participants on this deal were Tiger Global, Blossom Capital, Thrive Capital and New Enterprise Associates.
  • MoonPay hopes to use these funds to grow its existing business and expand into exciting verticals in the crypto space.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/11/moonpay-crypto-news-7-things-to-know-about-the-startup-hoping-to-dethrone-paypal/.

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