Mesh Announces Strategic Investment From QuantumLight, Revolut Founder Nik Storonsky's VC Firm, Tripling its Series A Valuation

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Aug 15, 2024, 08:00 ET

Investment comes as Mesh emerges as a preeminent crypto infrastructure provider, underscored by a surge of recent deals and integrations with industry heavyweights

SAN FRANCISCO, Aug. 15, 2024 /PRNewswire/ -- Mesh, the modern connectivity layer for crypto that makes payments and deposits seamless, today announced a new investment by QuantumLight, the innovative venture capital firm founded by Nik Storonsky, the CEO and founder of global financial superapp Revolut, which recently reached 45 million users in June 2024, establishing itself as one of the leading tech companies across the globe. The investment values Mesh at triple the pre-money valuation of its Series A on the heels of its blistering growth since the start of 2024.

Founded in 2020 by a team of cyber security and crypto experts, Mesh is solving crypto's fragmentation problem by offering a connected and embedded experience for exchanges, wallets, and payment providers. Mesh's powerful product, which has already been implemented by the likes of MetaMask, MoonPay, and Fireblocks, enables users to seamlessly connect, deposit, and pay with their crypto accounts across hundreds of other platforms, all embedded within their existing experience. The recent surge of integrations has made Mesh available to millions of crypto users across the world as the company has amassed seamless connections to over 300 platforms for hundreds of customers and support for more than 40 tokens across multiple networks.

"QuantumLight's founding team has over a decade of entrepreneurial experience in fintech and payments, and we are incredibly proud that they believe in our vision for a more interconnected financial world," said Bam Azizi, CEO and Co-Founder of Mesh. "Nik's experience in building Revolut into a global financial powerhouse brings invaluable insights and this investment by QuantumLight is a testament to what we are building at Mesh. We are thrilled to have QuantumLight on our cap table."

QuantumLight is the first truly systematic venture capital and growth equity firm. Unlike traditional funds, which rely on mostly qualitative factors in their deal selection, QuantumLight uses Aleph, a proprietary AI model, to crunch through billions of data points to make more precise investment decisions.

"Mesh has clearly identified a critical pain point in the crypto industry, which is fragmentation and a lack of connectivity. Solving these problems is a prerequisite to mainstream adoption. Their security-first approach, technology, and Bam's strategic vision position them perfectly to continue succeeding in this space" said Nik Storonsky, Founder of QuantumLight and Revolut.

"Don't be fooled into thinking that these guys are just building APIs—they are effectively redefining what the user experience of crypto will look like, which is much needed for the industry" commented Ilya Kondrashov, CEO of QuantumLight.

The investment is the latest demonstration of how much confidence investors have in Mesh. The company has raised $45M+ to date from PayPal Ventures, Money Forward, Galaxy, Samsung Next, and other top-tier VCs and angel investors like Gokul Rajaram.

About Mesh

Founded in 2020, Mesh aims to build an open, connected, and secure crypto ecosystem. As the modern connectivity layer for crypto, Mesh unlocks new use cases such as crypto payments and payouts, deposits, on and off-ramping, transfers, and more within a unified platform. With over 300 integrations, Mesh is pioneering the creation of a connected and embedded crypto ecosystem that benefits both businesses and users. For more information, visit https://www.meshconnect.com.

About QuantumLight

QuantumLight is a global AI-driven venture capital and growth equity firm, founded by Nik Storonsky (CEO and founder of Revolut) and managed by Ilya Kondrashov (co-founder of Kriya Finance). QuantumLight relies on 'Aleph', its AI system, to identify and invest in the most promising growth companies, while helping them scale by drawing on Nik's experience in building Revolut into one of the World's most successful fintech companies. For more information please visit https://quantumlightcapital.com/ or follow via LinkedIn.

Media contact: [email protected]

SOURCE Mesh