Startup Fun raises $72 million in Series A funding

9 articles · Updated · Fortune · May 1

Multicoin Capital and SignalFire led the round, which closed in late January, after an unannounced $3.9 million seed round in 2022.
The company says it processes more than $18 billion in annual payments volume for over 20 clients, including Polymarket, Lighter and Aave, helping users move between crypto and fiat.
Fun plans to expand its roughly 30-person workforce as Meta, Stripe and Shopify add crypto payments, betting more non-crypto companies will adopt tokens and stablecoins.

With its roots in crypto, can Fun truly win over mainstream businesses from traditional payment giants like Stripe and Shopify?

As central banks enter the digital currency race, can private payment pioneers like Fun survive the coming regulatory squeeze?

Is this new wave of fintech building a revolutionary financial system or just a more efficient layer on the old one?