Partior, a Singapore-based blockchain payments firm, has successfully closed its Series B funding round, raising a total of $80 million. Deutsche Bank has joined as a strategic investor, marking a significant milestone for the company as it aims to enhance its global reach and cross-border transaction capabilities.
Key Takeaways
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Partior raised $80 million in Series B funding, with Deutsche Bank as a new strategic investor.
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The funding will be used to expand global operations and develop innovative financial solutions.
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Partior has processed over $1 billion in transactions, showcasing its growing influence in the blockchain payments sector.
Overview of Partior
Founded in 2021, Partior emerged from Project Ubin, a collaborative initiative by the Monetary Authority of Singapore and industry players to explore blockchain technology for payment and securities settlement. The firm focuses on real-time, cross-border, multi-currency clearing and settlement, aiming to revolutionize traditional payment processes that are often slow and costly.
Deutsche Bank's Strategic Investment
Deutsche Bank's investment in Partior is part of its strategy to enhance its correspondent banking services through the launch of dbX, a next-generation banking ecosystem. As a Euro and US dollar settlement bank on the Partior platform, Deutsche Bank will help facilitate faster and more secure transactions for its clients.
Patricia Sullivan, Deutsche Bank’s Global Head of Institutional Cash Management, emphasized the importance of technological advancements in the payments sector, stating, "The payments business is currently undergoing an extensive period of disruption, primarily due to the rapid advancement of technology and the drive for greater financial inclusion and transparency."
Funding Details
The Series B funding round was initially announced in July 2024, where Partior raised over $60 million led by Peak XV Partners, with participation from notable investors such as J.P. Morgan, Standard Chartered, and Temasek. The recent addition of Deutsche Bank brings the total funding to $80 million, enabling Partior to further its mission of providing seamless cross-border transactions.
Future Developments
The newly acquired funds will be directed towards:
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Expanding Partior’s global reach.
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Enhancing cross-border transaction capabilities.
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Developing innovative solutions like intraday foreign exchange swaps and Just-in-Time multi-bank payments.
Humphrey Valenbreder, CEO of Partior, expressed pride in the company’s achievements, stating, "We are also proud to announce that we have now processed over $1 billion in value worth of transactions, marking a significant milestone in our journey and the growing industry belief in our platform."
Conclusion
Partior's successful funding round, bolstered by Deutsche Bank's strategic investment, positions the firm to lead the charge in transforming global financial infrastructure. With a focus on real-time, secure, and efficient payment solutions, Partior is set to play a pivotal role in the future of cross-border transactions.
Sources
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Temasek-Backed Blockchain Firm Partior Secures $80M Series B Funding, Blockhead.
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Partior adds Deutsche Bank as strategic investor in US$80M fundraise | e27, e27.
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Partior Raises $80M With Investment From Deutsche Bank, Cryptonews.
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Partior raises $80m in Series B with Deutsche Bank as Strategic Investor, IBS Intelligence.
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Partior closes $80m Series B following Deutsche Bank investment, DealStreetAsia.
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Partior secures $80m in Series B funding to enhance global financial settlements - FinTech Global, FinTech Global.