The finer details of back-end payment systems are enough to make most people’s eyes glaze over, even those in crypto. But Alex Fine, the founder and CEO of the startup Fun, finds in-the-weeds payment tasks to be just that, and his enthusiasm has paid off. On Friday, Fun announced that it has raised $72 million to work with buzzy tech firms like Polymarket to let users deposit and withdraw funds in crypto and fiat, like the U.S. dollar.
The crypto investor Multicoin Capital and the tech venture firm SignalFire led the Series A fundraise, which closed in late January. Other investors included Infinity Ventures, Pharsalus Capital, and Tinder cofounder Justin Mateen. Fine declined to disclose at what valuation he raised the capital. The Series A followed a previously unannounced $3.9 million seed round raised in 2022.
