Mesh, the financial operating system dedicated to seamless digital asset transfers and account aggregation, has announced raising $22 million in a Series A funding round, anchored by Money Forward Inc.
The round was participated by a diverse group of new investors like Galaxy and Samsung Next. Existing investors, including Streamlined Ventures, Hike VC, and Arash Ferdowsi, co-founder of Dropbox, also contributed. With this investment, Mesh’s total funding has now exceeded $32 million.
Established originally as Front Finance in 2020, Mesh aims to foster an open, secure, and interconnected financial environment where users maintain full asset control.
The company said it will use the fresh funding to expedite the widespread adoption of its solutions, as the firm intensifies its foundational operations and globally markets its offerings to companies and consumers alike.
After rebranding from Front Finance, Mesh has metamorphosed over the last year into a corporate-centered financial platform, effectively bridging digital and conventional financial assets.
Bam Azizi, Co-founder and CEO of Mesh, highlighted the burgeoning consumer demand for transparent asset control. He said:
Embedded finance is projected to tap into a $7 trillion market. Mesh, by securing each digital transaction, is at the helm of this transformation, promising improved user experience and heightened customer loyalty.
Mesh’s revolutionary approach allows financial entities and fintech firms to access users’ financial accounts to execute crucial functions, offering consumers a seamless experience.
Sandy Kimura of Money Forward emphasized Mesh’s advanced stance in the open finance evolution and expressed enthusiasm about their deepened partnership.
Within a year of its pivot to a business-centric platform, Mesh has sealed collaborations with over 70 firms in finance and digital assets. With integrations across 300+ platforms, Mesh is swiftly moving towards the summit of open finance and digital assets solutions.
Galaxy’s Venture team General Partner, Mike Giampapa, spotlighted Mesh’s central role in the modern financial framework, accentuating its vast cross-asset and service connectivity.
With the announcement of the Series A funding, Mesh welcomes Sandy Kimura and Anil Arora, the ex-CEO of Yodlee, onto its Board of Directors. Anil Arora commended Mesh’s transformative approach and looked forward to the company’s future endeavors.