MoonPay company profile: valuation, funding & revenue

This MoonPay company profile covers the company's valuation, revenue, funding rounds, investors and history. MoonPay works in crypto, with a focus on payments and on-ramps. It was founded in 2019 and is headquartered in Miami, Florida, United States. Its latest valuation on record is US$3.4 billion (November 2021). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

MoonPay timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2019 — MoonPay is founded in Miami by Ivan Soto-Wright (CEO) and Victor Faramond.
• Nov 2021 — Series A: US$555M, valuing the company at US$3.4B. Investors: Tiger Global and Coatue (co-leads).

Investors

Overview

MoonPay helps people buy and sell cryptocurrency using familiar payment methods such as debit cards, credit cards, bank transfers, Apple Pay and Google Pay. Rather than building a large consumer exchange, MoonPay mainly works behind the scenes: wallets, exchanges, games and other crypto applications integrate its widget so their users can convert ordinary money into crypto (an "on-ramp") or convert crypto back into money (an "off-ramp"). MoonPay handles payment processing, identity checks, fraud prevention and regulatory compliance in many countries, which would be expensive for each application to build itself.

The company was founded in 2019 by Ivan Soto-Wright and Victor Faramond. In 2021 it raised a US$555 million Series A, unusually large for a first institutional round, co-led by Tiger Global and Coatue at a US$3.4 billion valuation, according to Blockworks. That valuation was set during the 2021 crypto boom and has not been updated by a later priced round we can verify, so it should be read as a historical mark.

Products

• On-ramp: an embeddable widget that lets users buy crypto with cards, bank transfers and mobile payment methods.
• Off-ramp: a service that lets users sell crypto and receive money in their bank account or card.
• Swaps and cross-chain transfers: tools to exchange one crypto asset for another.
• Payments for businesses: services that let merchants accept crypto and stablecoin payments.
• Consumer app: a MoonPay account for buying, selling and managing crypto directly.
• NFT checkout: tools that let buyers purchase digital collectibles with cards.

Funding

MoonPay grew quickly through partnerships with wallets and marketplaces before raising its first large institutional round. The US$555 million Series A in 2021 was co-led by Tiger Global and Coatue, with participation from investors including Paradigm, NEA and Thrive Capital. Blockworks reported the round valued MoonPay at US$3.4 billion. The company has since used its capital for international licensing, acquisitions and product expansion.

Business model

MoonPay charges fees on each transaction processed through its on-ramp and off-ramp. Fees depend on the payment method, country and asset, with card payments typically costing more than bank transfers. Partner applications that integrate MoonPay can receive a share of revenue or add their own fee. Because revenue depends on how much crypto people buy and sell, MoonPay's results rise and fall with market cycles, though off-ramp volumes can stay active when markets fall.

Competition

MoonPay competes with other on-ramp providers including Transak, Ramp Network, Banxa, Stripe's crypto services and on-ramps operated by large exchanges such as Coinbase. Wallets such as Phantom and MetaMask from Consensys often integrate several providers and route users to whichever offers the best price or approval rate. MoonPay's strengths are its brand, wide country coverage and range of payment methods.

MoonPay at a glance

MoonPay is a crypto payments company founded in 2019 by Ivan Soto-Wright and Victor Faramond. Its on-ramp and off-ramp services let users of wallets and crypto applications buy and sell digital assets with cards and bank transfers. It raised a US$555 million Series A co-led by Tiger Global and Coatue in 2021 at a reported US$3.4 billion valuation.

Timeline

• 2019: founded; launches its on-ramp widget.
• 2020–2021: integrates with major wallets and NFT marketplaces as crypto activity surges.
• November 2021: raises US$555 million at US$3.4 billion.
• 2022–2024: expands licensing in Europe and the US and adds off-ramp and payments products.
• 2025–2026: pushes further into stablecoin payments for businesses.

How an on-ramp works

When a user taps "buy crypto" in a wallet, the wallet opens MoonPay's widget. The user enters the amount and the asset they want, then provides payment details. MoonPay verifies their identity, a process known as know-your-customer (KYC), checking documents and running fraud and sanctions screening. If approved, the payment is processed, MoonPay acquires the crypto through liquidity providers, and sends it directly to the user's wallet address. All of this typically happens within minutes. For the wallet, this means users can fund their accounts without leaving the app, which improves conversion and engagement.

The difficulty lies in fraud. Card payments can be reversed through chargebacks, but crypto transfers cannot be reversed. Fraudsters using stolen cards to buy crypto pose a serious risk. On-ramp providers invest heavily in fraud detection, and approval rates are a key measure of quality: too strict and genuine users are rejected, too lenient and losses mount.

Licensing and regulation

Moving between ordinary money and crypto is heavily regulated. Providers must hold money transmission or payment licences, comply with anti-money-laundering rules and register as crypto service providers in many jurisdictions. Europe's Markets in Crypto-Assets regulation (MiCA) created a single licensing framework across the EU, which benefits companies that secure licences early. In the US, money transmitter licences are required state by state. This regulatory work is costly but creates barriers that protect established providers.

Stablecoins and payments

Stablecoins have become one of the fastest-growing uses of crypto, particularly for cross-border payments and business transfers. MoonPay and its competitors are building tools that let businesses accept stablecoins, pay suppliers and move money internationally. This could diversify revenue away from trading-driven retail purchases. It also brings MoonPay into competition with traditional payment companies and fintechs that are adding stablecoin support.

Who funds MoonPay

MoonPay's investors include Tiger Global and Coatue, which co-led its Series A, along with Paradigm, NEA and Thrive Capital.

Valuation context

MoonPay's US$3.4 billion valuation was one of many large crypto valuations set in late 2021. Several companies from that period later raised at lower valuations or were acquired for less. Without a newer priced round, the current value is uncertain. Our guides to the largest private crypto companies and cross-border payments companies provide context.

Risks

• Market cycles: purchase volumes fall when crypto prices drop.
• Fraud losses: card fraud and chargebacks can be costly.
• Fee pressure: wallets route users to the cheapest provider, squeezing margins.
• Regulation: licensing requirements vary and change across countries.
• Dated valuation: the last verified priced round dates from 2021.

Questions for partners

• Which countries, payment methods and assets are supported?
• What are approval rates for your users' regions?
• How are fees shared between MoonPay and your app?
• Does the integration support off-ramps and stablecoin payouts?

Why applications outsource on-ramps

A wallet developer could, in theory, build its own system for users to buy crypto. In practice, this requires payment processing relationships with card networks and banks, licences in dozens of jurisdictions, identity verification systems, fraud teams, liquidity arrangements and customer support. For most companies, these costs far outweigh the benefits. Outsourcing to providers such as MoonPay lets them focus on their core product while offering users a seamless way to fund accounts. Many applications integrate several providers, routing users based on country, payment method and price, which creates competition but also opportunities for the provider with the best coverage and approval rates.

What to watch

Watch for a new priced funding round, licensing progress under MiCA and US regimes, growth of stablecoin payments and acquisitions.

Takeaways

Crypto applications can add buying and selling without becoming licensed payment firms themselves. Founders can see how infrastructure that hides complexity can scale through partners. Investors should treat the 2021 valuation as historical.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Blockworks