tl;dr
MoonPay is in negotiations to acquire Helio Pay for $150 million, which could enhance its crypto services and attract more users. However, MoonPay's investment activities have underperformed over the past two years. Helio, a payment platform for the Web3 economy, raised $3.3 million in its seed fund...
MoonPay is in negotiations to acquire Helio Pay for $150 million, which could enhance its crypto services and attract more users. However, MoonPay's investment activities have underperformed over the past two years.
Helio, a payment platform for the Web3 economy, raised $3.3 million in its seed funding round and has over 6,000 merchants, more than 1 million users, and annual sales exceeding $1.5 billion.
MoonPay, active in over 160 countries with more than 20 million accounts, has made notable strides in the bullish market environment and set a record for Solana transactions in a single day. Despite this, data shows that MoonPay's investment activities have been subdued in 2024, with around 50% of its investments related to NFTs and the Metaverse, which have performed poorly.
According to Eleanor Terrett from Fox Business, MoonPay is negotiating to acquire Helio for approximately $150 million. If the deal is finalized, it will mark the largest acquisition by MoonPay since its establishment in 2018.
Helio is a comprehensive payment platform for the Web3 economy. In April 2023, during its seed funding round, the project raised $3.3 million, attracting participation from several venture capital firms, such as Solana Ventures, RockawayX, Faction, and 23 other VCs and angel investors. To date, Helio reports having over 6,000 merchants, more than 1 million users, and annual sales exceeding $1.5 billion.
In 2024, MoonPay has made notable strides in the bullish market environment. For instance, last month, MoonPay set a record for Solana transactions within a single day. Additionally, the company has continuously integrated with various partners, such as Ripple and PayPal, to diversify its payment and asset management channels. The potential acquisition of Helio could be their next big leap forward. This plan comes amidst a wave of growing crypto adoption and positive forecasts regarding the global acceptance of stablecoin payments. According to MoonPay’s official website, the platform is currently active in over 160 countries, has more than 20 million accounts, and has facilitated over $6 billion in cryptocurrency transactions.
Data from Cryptorank shows that MoonPay’s investment activities have been subdued in 2024. Since 2023, MoonPay has invested in around 10 projects in the crypto market, with 50% of these being related to NFTs and the Metaverse. However, these two sectors have performed very poorly in 2024.