Investing in Coinflow
October 8, 2025 | Mason Nystrom, Ryan Barney
The first employee hired at eBay was for someone to open checks.
eBay was so successful out the gate that it needed a full time employee just to help open and process how much money the company was making. Name a better first-hire, I’ll wait.
In the beginning, eBay acted as the middleman, processing checks that people sent in exchange for goods. Naturally, an online payments system emerged for the platform, with PayPal – outcompeting even eBay’s own subsidiary, payment service product Billpoint – eventually getting acquired for $1.5 billion by eBay. Chef’s kiss.
And since the internet kickstarted the online payments arms race, the physics of finance have demanded that payments get faster and cheaper. Each new payment innovation – whether ACH, SSL checkout, QR codes, point of sale solution, APIs-first product, mobile checkout, or RTP networks, stablecoins – is driving towards the same end state. Faster and cheaper payments.
However, while the physics of finance pushes the payments system towards efficiency, it has also introduced its own entropy, creating a patchwork of payments networks each with another layer of integration complexity without solving fundamental issues around settlement speed, fragmentation, or risk management. Enter stablecoins and Coinflow.
Today, we’re excited to lead the Series A investment in Coinflow, the payments infrastructure for modern money.
Coinflow provides a unified payment stack with instant settlement and fraud protection, solving issues that legacy providers haven’t addressed.
One of the causes of this patchwork payment system is that global payment rails and networks have acted as walled gardens, fragmented because of jurisdictional boundaries. For example, the U.S. is unlikely to integrate with Brazil’s payment infrastructure, PIX, and vice versa because of national interests. Stablecoins promise an interoperability layer across nations and networks, while also offering a remarkably cheaper and faster transaction experience than legacy payment infrastructure.
Today, Coinflow offers a one-stop-shop payments solution for marketplaces, fintechs, remittance providers, gaming platforms, and ecommerce merchants worldwide. Their product offering consists of fiat and crypto payment options for end consumers, stablecoin payout options for merchants, and an in-house fraud detection model and chargeback protection product for merchants.
The founding story of Coinflow is not dissimilar from that of PayPal, which realized that accepting money over the internet was hard but that it shouldn’t be. While building his previous company, Cofounder and CEO,Daniel Lev, realized that accepting stablecoin payments was hard because money rails aren’t connected, but should be. Since Coinflow’s seed round in 2024, Coinflow has achieved 23x revenue growth, expanded payment coverage to 170+ countries, and reached a multi-billion-dollar annual transaction volume run rate.
The future of money is programmable and over the next decade stablecoins and blockchain rails will rebuild and connect global payments infrastructure. The physics of finance demands cheaper and faster transactions. And modern money – stablecoins – demand a modern payment solution, just as the internet demanded a new payment stack. Coinflow provides the payment infrastructure for modern money.
If you’re a merchant looking to elevate your payments technology, Coinflow is your ideal growth payments partner —book a demo today!