April 14, 2022

Snoop Dogg, The Weeknd And Drake Among Celebrities Who Invested In Crypto Firm MoonPay’s $87M Funding Round

Crypto payments infrastructure firm MoonPay received $87 million from an array of celebrities as part of its $555 million Series A round including Drake and Snoop Dogg.

The Miami-headquartered startup received a $3.4 billion valuation after closing its Series A funding round last November. The investment was led by Coatue and Tiger Global Management.

The firm provides payment infrastructure to let people exchange fiat currencies and crypto using all traditional payment methods, such as debit and credit cards, Apple Pay and Google Pay.

MoonPay has previously acted as a kind of “concierge” for NFT purchases on behalf of several of its celebrity investors, including Snoop Dogg and Paris Hilton.

MoonPay streamlined the process of buying an NFT ape. Stars who want a Bored Ape Yacht Club NFT will often go to MoonPay — and then thank the company in their tweets afterward.

Snoop Dogg has previously made previous investments into the space including in Yuga Labs’ $450 million seed funding round in March. 

Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.