MoonPay, a crypto payments infrastructure provider, announced it has closed a $555 million Series A financing round led by Tiger Global Management and Coatue, bringing its post-money valuation to US$3.4 billion.

The funding round also saw participation from Blossom Capital, Thrive Capital, Paradigm, and NEA.

The funds will enable MoonPay to rapidly accelerate its global footprint, further invest in its world-class team, and underwrite an expanding number of innovations in the crypto economy.

MoonPay is trusted by cryptocurrency, digital asset and blockchain technology companies including Bitcoin.com, which deployed MoonPay to help scale revenue by more than 500%.

The company’s fiat-to-crypto on-ramp powers more than 250 wallets, websites and applications in more than 160 countries and has processed more than US$2 billion in transactions to date.

“MoonPay is the world’s largest provider of crypto payments infrastructure that enables any organization to bridge traditional finance and crypto. We set out to democratize access to the crypto economy by providing the tools for businesses to onboard new users with magical product experiences. We are on a mission to help billions of people access trillions of dollars of digital value over the next decade and beyond.”

said Ivan Soto-Wright, Co-founder and CEO of MoonPay.

This article first appeared on Fintech News Switzerland. 

Featured image credits: Eva Marie Uzcategui | Bloomberg | Getty Images