Crypto Startup MoonPay Raises $87M from Celebrities Led by Justin Bieber, Snoop Dogg, and Others

MoonPay was established in 2019 with an aim to simplify how individuals should buy cryptocurrency. Co-founded by Ivan Soto-Wright and Victor Faramond, the company launched an easy and secure payment software solution that allows people to own a piece of their desired digital asset effortlessly. MoonPay enables users to buy, sell and trade cryptos using conventional payment methods like ATMs, credit cards, and mobile wallets, like Google Pay and Apple Pay. Two and a half years later, MoonPay closed its Series A funding round with $555 million in November 2021, which valued the company at a whopping $3.4 billion.

The latest funding round was led by 60 A-list celebrities, including Justin Bieber, Gwyneth Paltrow, Ashton Kutcher, Maria Sharapova, Snoop Dogg, Bruce Willis, Jason Derulo, Kate Hudson, Matthew McConaughey, Paris Hilton, Questlove, Shaw Mendes, Mindy Kaling, Aubrey Drake Graham, and several high profile investors. This star-studded investing round has raised $87 million to create NFTs, content, and expansion of fan engagements. 

MoonPay has been the go-to payment solution for celebrities interested in owning a Bored Ape Yacht Club NFT. Stars would usually mention MoonPay in their tweets. MoonPay is widely used, has 10 million customers, and has already processed almost $3 billion in transactions. The company has collaborated with coin exchanges, including FTX, Coinbase, OpenSea, and crypto wallet MetaMask. 

MoonPay has set its sights on a lofty goal, but it’s not alone. A high-profile innovative community backs it. MoonPay is laser-focused on growth. And in the blockchain world, more users mean more use cases and a brighter future for the application.