MoonPay Raises $87M from Justin Bieber, Gwyneth Paltrow Among Others
Additional celeb investors include the Chainsmokers, Drake, Eva Longoria, Kate Hudson, Questlove, and Shawn Mendes, among others.
Celebrities Hands Out $87M to MoonPay's Funding
According to a Bloomberg report, over 60 musicians, actors and other personalities collectively offered about $87 million in MoonPay's latest round of funding. The investments are part of the firm's Series A round, disclosed in November last year which valued the company at $3.4 billion, the company said on Wednesday.
Late last year, the startup raised $555 million in a Series A round led by Tiger Global Management and Coatue Management.
“MoonPay sees an entire different format for the entertainment industry,” Soto-Wright said. “My thought was: Let’s build a diversified portfolio of incredible people that represent different industries and let’s talk about the use cases for their intellectual property,” MoonPay Chief Executive Officer Ivan Soto-Wright said in a statement
Founded in 2018, MoonPay lets users buy and sell cryptocurrencies using conventional payment methods like credit cards, bank transfers, or mobile wallets, such as Apple Pay and Google Pay. Its service is now used by more than 10 million customers in 160 countries.