Cryptocurrency fintech startup MoonPay has completed its first round of venture capital with a cash value of $3.4 billion.

On Monday, the company formally announced the completion of a $555 million Series A funding round led by prominent industrial investors such as US investment firm Tiger Global and technology investment manager Cotwe. Other shareholders include Blossom Capital, Thrive Capital, Paradigm and venture capital firm New Enterprise Associates.

The raised capital is MoonPay’s first funding since the company was founded in 2019 by two young entrepreneurs, Evan Soto-Wright and Victor Faramond. The company claims to have processed more than $2 billion in transactions and reached a customer base of more than 7 million users.

Fintech focuses on providing cryptocurrency payments infrastructure and facilitating crypto transactions against 30 fiat currencies and over 90 cryptocurrencies such as Bitcoin (BTC). According to the announcement, MoonPay’s cash-to-crypto feature allows use of more than 250 apps, websites and crypto wallets, including Bitcoin.com, in more than 160 countries.

In addition to providing classic crypto services, MoonPay also offers a proprietary non-fungible token (NFT) solution that allows users to buy and sell NFTs. Last week, rapper Post Malone promoted MoonPay in a music video for The Weeknd, buying two Bored Ape NFT yacht clubs from the exchange for a total of 160 ETH.

Related: TradingView Completes New $3 Billion Funding Round

With the new funding, the company plans to continue hiring new talent and expand its services around the world. According to Soto-Wright, founder and CEO of MoonPay, the company positions itself as the world’s largest provider of crypto payment infrastructure. “

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