TechFlow reported that insiders including MoonPay co-founder and CEO Ivan Soto-Wright cashed out $150 million worth of shares during the company's Series A fundraising round in November 2021.
According to sources, MoonPay raised $555 million at a $3.4 billion valuation during its Series A round in 2021, with participation from Tiger Global Management, Coatue Management, and others. Part of the funds were used to purchase shares from existing shareholders including Ivan Soto-Wright.
MoonPay raised $405 million by selling new shares to investors, while the remaining $150 million enabled insiders to sell their existing stakes through secondary transactions. Weeks after the Series A round closed, Ivan Soto-Wright purchased a $38 million mansion in Miami and hosted a lavish party.
