Crypto payments company MoonPay has raised $87 million in funding from at least 60 celebrity investors including Justin Bieber, Gwyneth Paltrow, and Drake. The actors and musicians are part of an extension round after MoonPay’s $555 million Series A funding round that was led by Tiger Global Management and Coatue in November.
MoonPay enables users to convert fiat money into cryptocurrency and provides anti-money laundering and know your customer (KYC) compliance services.
Late last year, the company launched a concierge service to help high-net-worth individuals and celebrities purchase non-fungible tokens (NFTs) and cryptocurrencies. This move may have made celebrities familiar with the platform, leading to their investment.
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