Mesh, a startup formerly known as Front Finance, has successfully raised $22 million in a Series A funding round. The round was led by Money Forward, with participation from notable investors such as Galaxy, Samsung Next, Streamlined Ventures, SNR.VC, Hike VC, Heitner Group, Valon Capital, Florida Funders, Altair Capital, Network VC, and various angels. This brings Mesh’s total funding to date to an impressive $32 million.
Key Takeaway
Mesh, a digital asset management startup, has raised $22 million in a Series A funding round led by Money Forward. The funding will be used to further develop Mesh’s tools and support its go-to-market operations. Mesh aims to revolutionize the way people transfer and manage digital assets by providing a secure and user-friendly platform. With millions of people globally investing in digital assets, the potential for growth in this sector is significant.
The Future of Digital Asset Management
Mesh aims to transform the way people transfer and manage their digital assets, including cryptocurrencies. With the new capital infusion, Mesh plans to further develop its tools for deposits, payments, and payouts, while also supporting its go-to-market operations. The startup aims to reinvent the connection layer that is critical to facilitating seamless digital-first user experiences. Mesh empowers users by providing them with the ability to access and move their money on their own terms, meeting the growing consumer demand for digital-first financial services.
A Strong Team with a Solid Background
Founded in 2020 by Bam Azizi and Adam Israel, Mesh has quickly gained recognition in the industry. Before starting Mesh, Azizi successfully launched NoPassword, a cybersecurity and identity company that was subsequently acquired by LogMeIn in 2019. On the other hand, Israel brings a wealth of experience from the banking sector, having worked at HSBC as a managing director. Together, Azizi and Israel spent several years building the core infrastructure for Mesh, culminating in the platform’s launch in September 2022.
Unlocking Interoperability in the Digital Financial World
Mesh offers businesses a solution to enable their customers to seamlessly move assets, including cryptocurrencies, across different platforms. Users can connect various asset classes and link their corresponding accounts to Mesh, which aggregates all of their accounts in one place. Mesh supports in-app transfers of assets across exchanges and wallets, as well as payments and payouts of cryptocurrencies. Notably, Mesh ensures the security of user information by not storing personal data or credentials and keeping transfer destinations anonymous from external accounts.
Driving Growth in a Thriving Market
The digital asset market is thriving, with millions of people globally, including 16% of adult Americans, investing in digital assets. With a market capitalization of $3 trillion worldwide as of last November, the potential for growth in this sector is immense. As such, Mesh has already garnered 70 paying clients from the finance and digital asset industries. The startup’s plug-and-play solution appeals to businesses looking to provide more interoperability to their users without the need to develop APIs from scratch for each platform.
