Blockchain fintech startup Partior has grown its Series B to $80 million so far, and the company said it has landed a strategic investor with Deutsche Bank. This comes during the rise in total funding given to the company as offering blockchain-based payment solutions becomes more and more relevant.
Deutsche Bank will join a list of investors, including existing supporters Amadeus Capital, Octopus Ventures and Creandum, in its second close in July 2024. Peak XV Partners and J.P. Morgan, Standard Chartered, Temasek, Jump Trading Group and Valor Capital Group led the round.
Partior did not disclose the extent of Deutsche Bank’s contribution to the funding other than to say the company would use the funds to help it continue its global expansion and further improve its platform capabilities. They include introducing foreign exchange (FX) intraday swaps and just-in-time multi-bank payments.
The German bank has not said whether this integration will include Partior’s platform or how it will operate as a Euro and U.S. dollar settlement bank.
“Deutsche Bank, as the largest EUR clearer, is excited to be a leader in this revolution and harness cutting-edge technology to enhance the speed, transparency, and security of payments expected by clients and peers alike.”
Patricia Sullivan, global head of institutional cash management, Deutsche Bank
Cross Border Payments investment accelerates Partior’s growth
Humphrey Valenbreder, CEO of Partior, added, ‘This is an important step forward for us. It will speed up Deutsche Bank’s instant, secure, and seamless cross-border payment delivery. ‘ Partior, however, has crossed $1 billion worth of transactions, he added that the demand for its services continues to grow.
Partior is a blockchain-based real-time clearing and settlement solutions company founded in 2021. But it’s quickly developing a reputation for streamlining cross-border payments, providing instant liquidity and inefficiencies in traditional financial systems.
The U.S. dollar, euro, and Singapore dollar are the currently supported currencies. Partior is now attempting to broaden its fiat suite with Japanese yen, British pound, and Australian dollars.
Partior plans to carve out a niche in the new financial world with blockchain in a position where the company attracts high-profile investors and expands its service.
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