Mercuryo raised $7.5 million in a Series A round of funding led by Target Global.

Mercuryo, a Talinn, Estonia-based developer of cryptocurrency payment processing solutions, announced closing a $7.5 million series A funding round.

The money was raised from investors led by Target Global and will be used to expand into new markets.

Mercuryo, founded in 2018 Petr Kozyakov, Alexander Vasiliev and Greg Waisman, developed a cross-border payments network that enables businesses across the world to send and receive payments for goods and services using cryptocurrencies. The company says that has a little under 1 million customers, dealing with a number of large crypto players including Binance, Bitfinex, Trezor, Trust Wallet, Bithumb and Bybit.

Mercuryo previously announced raising $3 million in 2020.