# MugglePay

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mugglepay

- Industry: Financial Services
- Headquarters: Singapore
- Website: www.mugglepay.com/
- Total disclosed funding: $1M
- Latest round: Seed (Apr 27, 2021)
- Investors on record: 4

## About

MugglePay is a payment processing platform specializing in cryptocurrency transactions, allowing merchants to accept payments in over 20 cryptocurrencies, including Ethereum and Solana, facilitating diverse customer engagement across a global marketplace.Founded in 2018 and headquartered in Singapore, MugglePay provides payment processing solutions for cryptocurrency transactions. The firm was co-founded by Shawn Yu and Sky Han. In April 2021, MugglePay raised USD 1 million in SEED funding led by Flori Ventures, with participation from Borderless Capital, Celo Foundation, and LuneX Ventures, marking a significant milestone for the company.MugglePay specializes in providing a comprehensive payment processing solution that facilitates cryptocurrency transactions across multiple blockchains and tokens. At the core of their offerings is the ability to accept payments in over 20 different cryptocurrencies, including popular ones like Ethereum, Solana, and USDC, allowing merchants to engage with a diverse customer base. The platform is designed for quick setup, reportedly enabling merchants to start accepting crypto payments in as little as five minutes. MugglePay serves a wide range of clients, including over 14,000 merchants across more than 50 countries, and supports various business types such as AI agents, NFT presales, and crypto debit card transactions, ensuring broad applicability in the evolving financial landscape. Its integration capabilities with popular e-commerce platforms like Shopify and WooCommerce further enhance its utility, catering to businesses seeking accessible entry points into the cryptocurrency market.MugglePay generates revenue through its payment processing model, which operates on a transaction fee structure for the services rendered to merchants. Businesses utilizing MugglePay to facilitate cryptocurrency payments incur fees for each transaction processed, thereby generating recurring revenue tied to transaction volume. The company’s offerings, particularly its flagship solutions that support stablecoin settlements and direct payments without the need for complex wallets, appeal to both B2B and direct-to-consumer markets. By providing a seamless integration experience and a range of blockchain support, MugglePay positions itself to capture a share of the growing demand for cryptocurrency payment solutions. The diverse client base and multi-chain capabilities not only enhance transaction frequency but also contribute to a sustainable revenue model as merchant adoption continues to rise.MugglePay plans to utilize the recent funding of USD 1 million raised in April 2021 to enhance its product offerings and expand into new markets. The company is currently designing new features aimed at improving user experience and increasing transaction capabilities. Specific regions targeted for expansion include Europe and North America, with plans to enter these markets by late 2022. The funding will support these initiatives and bolster their presence in the growing cryptocurrency payment sector.

## Funding rounds

- Seed, Apr 27, 2021, $1M — LuneX Ventures, Borderless Capital, Celo Foundation, Inc., Flori Ventures

## Investors

- LuneX Ventures (https://capitalatlas.ai/funds/lunex-ventures) — Seed
- Borderless Capital (https://capitalatlas.ai/funds/borderless-capital) — Seed
- Celo Foundation, Inc. — Seed
- Flori Ventures (https://capitalatlas.ai/funds/flori-ventures) — Seed