Fundraising Fox

Mezo

15 known investors

Mezo is a Bitcoin-backed lending and yield platform that allows users to borrow stablecoins (MUSD) using Bitcoin as collateral and earn yield through managed vault strategies. The platform serves Bitcoin holders seeking liquidity without selling their holdings.

Also known as Mezo Network

Crypto & Web3Fintech

Founders & leadership

ML
Matt LuongoFounder & CEO

Investors · 15

BaseTwoGeorge Town
Draper DragonSilicon Valley
FlowdeskDubai
Multicoin CapitalAustin · $1M – $50M
NascentSan Francisco
Pantera CapitalSan Francisco · $5M – $100M
Silvermine Capital
Spirit DAO
AsymmetricreportedMiami · $10K – $1Mvia Joe McCann · inferred
Cathay InnovationreportedParis · $5M – $40M
Draper AssociatesreportedSan Mateo · $500K – $5M
Hack VCreportedPalo Alto · $3M
Manifold VenturesreportedTortola
NascentreportedToronto

Also in the syndicate · 1

Ledger Cathay Fundlead

Funding

SEC filings, press & company announcements

$21M disclosed across 1 of 3 rounds · 2024

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Mezo is a Bitcoin-centered consumer finance application that lets holders borrow against, earn on and spend their Bitcoin rather than selling it. Its core products are a decentralized line of credit collateralized by Bitcoin, yield vaults powered by Upshift Finance that run managed strategies on users' Bitcoin, and MUSD, a native stablecoin that the company describes as fully backed by Bitcoin reserves and designed to hold a 1:1 value with the U.S. dollar.

The product is delivered through a wallet and app interface that aggregates a user's onchain holdings — BTC, MUSD, "mats," NFTs and other assets — in a single portfolio view, alongside loan status, collateral ratio and risk-management tools with real-time position data. Beyond borrowing and earning, the app supports providing liquidity and voting on protocol governance. Mezo also runs its own block explorer and publishes developer documentation for projects building on it, and maintains an offering directed at institutions.

Business model

Mezo operates an onchain protocol and consumer application around Bitcoin-collateralized credit, a Bitcoin-backed stablecoin (MUSD) and yield vaults, with network transaction fees paid in a designated token and vault strategies operated in conjunction with Upshift Finance.

▸Full profile — market position, technology, go-to-market, history

Market position

Mezo positions itself as an everyday finance layer for Bitcoin — bank-free, permissionless and decentralized — emphasizing use of Bitcoin rather than passive holding.

Mezo combines Bitcoin-collateralized credit, a Bitcoin-backed stablecoin and expert-managed yield vaults in one wallet and app interface, with real-time collateral and risk monitoring and no reliance on banks or intermediaries.

Technology

Mezo is a decentralized, permissionless onchain network with its own explorer and developer documentation. It issues MUSD, a stablecoin stated to be 100% backed by Bitcoin reserves and pegged 1:1 to the U.S. dollar, and supports Bitcoin-collateralized credit lines, liquidity provision and onchain governance voting. Yield vaults are powered by Upshift Finance, with some vault parameters subject to time locks.

Go-to-market

Direct-to-consumer via a web application optimized for desktop, supported by documentation, an FAQ, a blog and an email newsletter, plus a separate track for institutions and for dapp/project integrations.

Bitcoin holders who want liquidity, yield or spending capability without selling their holdings; developers building dapps on the network; and institutions, for whom the company maintains a dedicated offering.

History

Mezo is built by Thesis, a team the company describes as having spent more than ten years working on Bitcoin with a focus on security, and as the creators of tBTC, Fold and Taho.

Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.

Competitors · 9

by search overlap
CryptoRank19 shared keywordsCryptorank is a data platform that tracks and publishes information on cryptocurrency funding rounds, project valuations, and investment activity. It aggregates and verifies funding data from public sources for the crypto market.
Coinbase16 shared keywordsCoinbase is a cryptocurrency exchange platform that offers trading, custody, and financial services for cryptocurrencies, stocks, derivatives, and prediction markets to consumers, institutions, and developers. The company operates a full-stack infrastructure including secure custody, liquidity services, stablecoin infrastructure, and global settlement rails.
Bitget14 shared keywordsBitget is a cryptocurrency exchange platform that also offers Bitget CFD, letting users trade traditional assets such as forex, gold, crude oil, and indices directly with USDT via an MT5 account. It provides multi-asset trading with up to 500x leverage for retail and crypto traders.
Crypto12 shared keywordsCrypto.com operates a regulated all-in-one financial app where users can buy, trade, earn, and spend cryptocurrencies, stocks and ETFs, and prediction market contracts, plus a self-custody onchain wallet with DeFi access. It serves retail and institutional investors globally, with equities and prediction markets offered to US users under SEC and CFTC regulation.
KuCoin12 shared keywordsKuCoin is a cryptocurrency exchange where users can trade digital assets. It highlights proof-of-reserves transparency and ranks among the larger crypto trading platforms.
TradingView10 shared keywordsTradingView is a charting platform and social network used by over 100 million traders and investors worldwide to analyze and trade across global financial markets. The platform provides tools for technical analysis, market data, and community collaboration for retail and institutional traders.
Kraken10 shared keywordsKraken 360 Investments provides capital and launch infrastructure to blockchain protocols in pre-token and early post-token phases, offering custody, staking, treasury, and liquidity services alongside fundraising support.
MEXC9 shared keywordsMEXC is a cryptocurrency exchange where users trade a range of tokens and futures, with features such as low fees and liquidity. It highlights asset security measures including a Guardian Fund, 1:1 backed reserves, and a futures insurance fund.
Etherscan7 shared keywordsEtherscan is a blockchain explorer platform that provides search, API, and analytics services for Ethereum and multiple other blockchains. It serves developers, researchers, and users seeking to access and analyze blockchain data and on-chain transactions.

Companies competing with Mezo for the same Google search keywords, organic and paid, via search-intersection analysis.

In the news

Mezo, Thesis' BitcoinFi Project, Completes $7.5M Strategic Round lead by Ledger Cathay Fundprnewswire.com · Jul 2024Bitcoin scaling network Mezo raises $7.5 million in new funding | The Blocktheblock.co · Jul 2024Mezo Raises $21M in Fundingfinsmes.com · Apr 2024Thesis Launches Bitcoin Economic Layer, Mezo, with $21M Raise Led by Pantera Capitalprnewswire.com · Apr 2024Bitcoin scaling network Mezo raises $21 million led by Pantera Capital | The Blocktheblock.co · Apr 2024

▸Research sources · 1

primary sources listed

1 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Mezo do?
Mezo is a Bitcoin-based finance app for borrowing, earning yield and spending without selling Bitcoin.
Who founded Mezo?
Mezo was founded by Matt Luongo.
Who are Mezo's investors?
Mezo's investors include BaseTwo, Draper Dragon, Flowdesk, Multicoin Capital, Nascent, Pantera Capital, Silvermine Capital, Spirit DAO and 6 more.
How much funding has Mezo raised?
Mezo has disclosed $21M raised across 1 of its 3 known rounds.