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Mesh CEO Bam Azizi will never return to his usual way of growing venture capital. That means he is not waiting for a wire transfer to settle in a Mesh bank account.
Instead, he prefers to receive it in stablecoins.
Earlier this week, Mesh announced it had raised $82 million in Series B, led by Paradigm. The money was then sent to Mesh using PayPal’s Stablecoin Pyusd using his own company technology.
Considering PayPal Ventures has joined Series A, it’s pretty fitting when you ask me
Binance recently unveiled the Abu Dhabi MGX Also I submitted my investment through Stablecoins, and although the total was just big, it was a cool $2 billion.
“That makes sense,” Ajitzi told me. Why wait a week or so for a wire transfer when you can calm down quickly with a stubcoin? Perhaps both Azizi and Binance will be trendsetters here.
Further promotion of Azizi will also be Stablecoin-comprehensive.
“I’m tired of calling the bank and checking manually,” he grasped. “Are you doing the 1990s? Come on, you can do better.”
Ajitsi said the round happened quite early – a matter of weeks rather than months. He sent an update to an investor he was talking to in January. And then suddenly, he was preparing the data to complete the company’s latest round.
(Ajitzi even admitted that he pushed back some of the initial conditions “to buy time,” but after that they were ready to finalise their funds.)
As Mesh raised $22 million in Series A in 2023, it’s no surprise that successful business updates, centered around Stablecoins, will attract attention from VCs such as Consency, Quantumlight, Paradigm.
Ah, wait, let’s go back for a moment: Mesh is a crypto payments company. Azizi’s goal is to simplify payments and pass the “grandma test.” This should be pretty obvious, but basically means that anyone can make payments with crypto.
The company has been working to establish its position as a bridge for about five years, and has focused on Steubcoin two years ago.
Mesh takes an agnostic approach to space. Unlike some of the companies we spoke to in this newsletter, they don’t have a direct interaction with consumers, but instead they can connect networks and make payments.
“That’s how we stand out. By building that network and competing with all these players. They’re competing with each other. We want to be a (…) connection layer, and we want to connect and bridge all the gaps between these two,” he explained.
Just as mesh solves the payment experience, people don’t sit in a memocoin portfolio, they actually start using crypto for payments.
