Crypto payments startup MoonPay is raising its first round of venture capital at a $3.4 billion valuation including the investment, according to two people familiar with the matter. Tiger Global Management and Coatue Management are co-leading the $400 million financing for the bootstrapped startup.

MoonPay’s software allows people to use credit cards to buy cryptocurrencies or other digital assets from marketplaces such as OpenSea and Bitcoin.com. The startup’s staggering valuation, unusual for an initial VC deal, reflects the three-year-old company’s fast growth as it leverages growing consumer interest in cryptocurrencies.

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