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Crypto Payments Startup Fun Raises $72 Million to Power Unified Fiat–Crypto Rails

The API lets consumer apps move money between bank accounts and stablecoins through one hookup.

Fun founder and CEO Alex Fine (left) and CSO Shiv Shrivastava.
Fun raises $72m to wire fiat and crypto into the same checkout
Crypto payments firm Fun raises $72 million from Multicoin and SignalFire in Series A

Overview

  • Fun, which announced a $72 million Series A on Friday, builds the rails that let apps handle deposits and withdrawals in dollars and in crypto.
  • The round was led by Multicoin Capital and SignalFire, with Infinity Ventures, Pharsalus Capital and Tinder cofounder Justin Mateen also investing, and it closed in late January.
  • The company says it processes more than $18 billion in yearly volume and powers money flows for Polymarket, Lighter and Aave.
  • Fun plans to use the new cash to hire and scale operations, and Crypto Briefing reports the startup will add a Singapore base to expand in Asia-Pacific.
  • The startup did not disclose its valuation, revenue or profitability, a gap in outside verification as major platforms expand crypto payment options.