Mesh secures USD 22 mIn in a Series A funding round

As outlined in the official press release, the funding round was led by Money Forward, with participation from companies such as Galaxy, Samsung Next, Streamlined Ventures, SNR.VC, Hike VC, Heitner Group, Valon Capital, Florida Funders, Altair Capital, Network VC, as well as various angel investors.

Mesh, formerly known as Front Finance, is a startup specialising in developing a service that enables its customers to transfer and manage digital assets such as crypto, thus bridging the gap between digital and traditional financial assets. The fintech’s mission is to build a financial ecosystem where users have full control over their assets. 

The company reportedly plans on using the newly secured funding to develop tools for deposits, payments, and payouts, and to support its go-to-market operations. Following this latest founding, up to now, Mesh has supposedly raised a total of USD 32 million.

More details about Mesh and its financing 

The solution that Mesh provides seeks to answer a market need – the consumer demand for control over their assets and access to financial services that extend this control. To address this consumer demand, Mesh purportedly offers a product that allows users to make crypto transfers and payments from over 300 exchanges and wallets.

When commenting on this latest development, a representative from Mesh emphasised that the fintech strives to bank on the opportunities presented within the embedded finance sector, which is expected to reach a market size of USD 7 trillion in the US by 2026. 

Companies can use Mesh to enable their customers to move their assets across different platforms, while users can connect various asset classes and accounts that hold those assets via Mesh’s read, write, and transfer capabilities. Among the main features that Mesh extends are in-app transfers of assets across exchanges and wallets, as well as payments and payouts of crypto. Until now, the fintech has reportedly secured partnerships with more than 70 companies across finance and digital assets.

According to officials, the company doesn’t store its users’ personal information or credentials, it keeps transfer destinations anonymous, and it doesn’t touch the users’ assets – solely facilitating direct account-to-account transfer.