Fun, founded in 2022, creates stealth payment infrastructure, and announced they raised $72 million in a Series A with Multicoin Capital and SignalFire as lead investors. The firm provides the global crypto payments backbone for major platforms, including Polymarket, Lighter, and Aave, handling the complex movement of value across fiat and digital rails at scale.
What Fun brings to the table
Fun has a yearly transaction volume of over USD 18 billion with a 99.999 percent success rate, supporting millions of users in over 100 countries. According to Josh Stevens, the VP of Engineering for Polymarket, “Fun has built the highest-converting, most reliable deposit flow we’ve ever had.” The unified payments system founded by CEO Alex Fine is providing a solution to a “simple but foundational problem: removing the technological barrier of value exchange.”
The global crypto payments infrastructure has been purposefully built by a small, specialized team. The raise will fuel further engineering investment, Fun to continue expanding its team, build a new office in Singapore to grow its reach in the Asia-Pacific (APAC) region, and acquire selective companies to increase its infrastructure stack.
Transforming global crypto payments
Traditional financial (TradFi) systems are fragmented across different rails, currencies, and systems that don’t interoperate. That disorganization creates inefficiencies and friction, and according to Fine, this is “the enemy of conversion.” For instance, Fun’s unified layer eliminates that friction, enabling commerce platforms to focus on building their core products rather than ‘wrestling’ with the complexities of payment processing.
“Polymarket runs at a scale that breaks most payments infrastructure. We’ve evaluated every major payments vendor, and Fun is in a different category. They operate like part of our team, building custom flows around how our users actually behave. They are meticulous about every detail and solve edge cases that others don’t notice.
At our size, every percentage point of conversion is millions of dollars and millions of users, and every reliability failure becomes a public conversation. Bespoke engineering is the only way to deliver results, and it’s how Fun has built the highest-converting, most reliable deposit flow we’ve ever run.” – Josh Stevens, VP of Engineering, Polymarket
Is the world ready?
The rapid increase in the number of people using digital assets, combined with the explosive growth of platforms like Polymarket (combined prediction market volumes reached USD 18 billion in February 2026 alone), means that the demand for reliable, high converting payment infrastructure has never been higher than it is now. Fun’s backers are betting that the world is not just ready for it, but it’s desperate for practical solutions that make moving/transferring money as easy as moving data.
