MoonPay Raises $87M from Justin Bieber, Gwyneth Paltrow Among Others

Crypto payments company MoonPay got almost 16% of its most recent funding round from a slew of celebrity investors such as Ashton Kutcher, Justin Bieber, Steve Aoki, Gwyneth Paltrow, Maria Sharapova, Diplo, Post Malone, Drake, Matthew McConaughey, Bruce Willis, Mindy Kaling, Jason Derulo, and Paris Hilton. Additional celeb investors include the Chainsmokers, Drake, Eva Longoria, Kate Hudson, Questlove, and Shawn Mendes, among others. Celebrities Hands Out $87M to MoonPay’s Funding According to a Bloomberg report, over 60 musicians, actors and other personalities collectively offered about $87 million in MoonPay’s latest round of funding. The investments are part of the firm’s Series A round, disclosed in November last year which valued the company at $3.4 billion, the company said on Wednesday. Late last year, the startup raised $555 million in a Series A round led by Tiger Global Management and Coatue Management. “MoonPay sees an entire different format for the entertainment industry,” Soto-Wright said. “My thought was: Let’s build a diversified portfolio of incredible people that represent different industries and let’s talk about the use cases for their intellectual property,” MoonPay Chief Executive Officer Ivan Soto-Wright said in a statement Founded in 2018, MoonPay lets users buy and sell cryptocurrencies using conventional payment methods like credit cards, bank transfers, or mobile wallets, such as Apple Pay and Googl...