Payy Raises $6 Million in Seed Funding
Payy, a New York-based company focused on privacy-first stablecoin transactions, has successfully raised $6 million in a seed funding round. The funding, announced on March 25, 2026, was led by FirstMark Capital, with participation from Robot Ventures and DBA Crypto.
Company Background
Payy is developing a stablecoin chain designed to ensure transaction privacy, preventing exposure of users' financial activities. The company employs zero-knowledge technology to secure these transactions, providing a solution for enterprises seeking private stablecoin flows.
Founders and Leadership
The company was co-founded by Sid Gandhi, who serves as CEO, and Calum Moore, who takes on the role of CTO. Together, they are driving Payy's mission to enhance privacy in the digital currency space.
Strategic Use of Funds
The fresh capital will be directed towards building a zero-knowledge Layer 2 (L2) protocol and a digital wallet. These developments are intended to make stablecoin transactions, specifically those involving USD Coin (USDC), private by default. The focus will be on attracting enterprise clients who require secure and private financial transactions.
Investor Insights
FirstMark Capital, known for its investments in innovative technology companies, led the round. The participation of Robot Ventures and DBA Crypto indicates strong interest in Payy's approach to combining blockchain technology with privacy features.
Future Developments
With this seed funding, Payy aims to expand its team and accelerate the development of its privacy-first stablecoin solutions. The company is positioned to make significant strides in the digital payment industry, particularly in enhancing privacy and security for enterprise clients.
As the demand for secure digital transactions grows, Payy's focus on privacy could prove crucial in setting new standards for stablecoin usage.