Celebrities and Athletes Biggest Backers in Moonpay Funding Round

MoonPay announced a $555 million Series A financing round in November of 2021. This brought the company’s valuation up to $3.4 billion.

On Wednesday MoonPay revealed that $87 million of the total $555 million came from celebrities or public figures involved in either music, sport, media  or the entertainment industry.

Although the companies like Tiger Global Management ,Coatue, Blossom Capital, Paradigm and NEA took the lead in the Series A funding round, a number of household names were also involved.

Some of these names include Gwyneth Paltrow, Gal Gadot, Matthew McConaughey, Paris Hilton, Snoop Dogg and Justin Bieber, to name a few.

The company shared that this overwhelming support from investors will help the company with its international expansion, help grow the team, as well as bring in new partners. This will also help MoonPay with their mission to bring access to crypto to 1 billion people by 2023.

MoonPay is best known for letting users buy cryptocurrency and NFTs with a bank card, or through electronic transfers, or through payment apps like Google Pay and Apple Pay.

One celebrity that has used the company before is Gwyneth Paltrow. She was able to buy a Bored Ape Yacht Club NFT through MoonPay.

Paltrow said in a statement that “Web3 is inspiring the entertainment industry, and commerce in general, to reimagine the way we create community, connect with fans, build value and manage intellectual property.”

Even athletes like Paul George recognize that “Crypto and NFTs will be the key to maximizing the business of professional sports as we look ahead.”