Singapore-headquartered blockchain payments network Partior has closed its Series B funding round at $80 million after roping in Deutsche Bank as an investor, according to an announcement on Wednesday.
With Deutsche Bank’s investment, Partior will further bolster its global reach and scale its cross-border capability, as well as develop and enhance innovative functions like Intraday FX swaps and Just-in-Time multi-bank payments.
Partior had announced the close of the first tranche of the round at over $60 million led by Peak XV Partners in July, as first reported by DealStreetAsia. JP Morgan, Jump Trading Group, Standard Chartered, Temasek and Valor Capital Group also participated in this funding round. Peak XV Partners contributed the most, $15 million, to the round.
According to the company’s filings to Singapore’s Accounting and Corporate Regulatory Authority (ACRA), Partior has issued Series B shares worth $25 million to JP Morgan, Temasek Holdings, and Standard Chartered upon conversion of notes issued last year.
Founded in 2021, Partior enables real-time, atomic clearing and settlement, providing instant liquidity and transparency, offering enhanced security, and overcoming challenges commonly associated with sequential processing in legacy payment systems.
Deutsche Bank’s intention is to join as a Euro- and US-dollar settlement bank on the Partior platform, which underscores its commitment to empower its customers with real-time, secure, and scalable settlement solutions.
This also complements Deutsche Bank’s recent launch of dbX, a next-generation correspondent banking ecosystem designed to optimise and expand its financial institution client services.
“The payments business is currently undergoing an extensive period of disruption, primarily due to the rapid advancement of technology and drive for greater financial inclusion and transparency. 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,” said Patricia Sullivan, Global Head Institutional Cash Management, Deutsche Bank.
“Deutsche Bank’s investment and collaboration are a powerful validation of our vision to transform global financial infrastructure.” said Humphrey Valenbreder, Chief Executive Officer of Partior. “With their support, we will accelerate our mission to deliver seamless, secure, and instant cross-border transactions for financial institutions worldwide. We are also proud to announce that we have now processed over $1 billion worth of transactions, marking a significant milestone in our journey and the growing industry belief in our platform.”
Partior has so far also processed over $1 billion in transaction value as it marks a year of accelerated growth.
Last year, the company raised $31 million in its Series A funding round led by UK-headquartered bank Standard Chartered. The round was joined by investor trio Temasek Holdings, DBS and JP Morgan.