Web3 Payment Startup Fun Secures $72 Million in Series A Funding

Web3 payment infrastructure startup Fun has announced the completion of a $72 million Series A funding round, led by Multicoin Capital and SignalFire. According to Odaily, other participants in the round include Infinity Ventures, Pharsalus Capital, and Tinder co-founder Justin Mateen. The funding round was finalized in late January, following a previous seed round in 2022 that raised $3.9 million. Fun specializes in providing payment rails for developers, enabling users to directly exchange crypto assets for fiat currencies like the U.S. dollar without relying on centralized exchanges or traditional banks. The company currently supports deposit infrastructure for platforms such as prediction market Polymarket, crypto derivatives platform Lighter, and lending application Aave, with an annual payment processing volume exceeding $18 billion. The newly acquired funds will be used to expand Fun's team, which currently consists of approximately 30 members.