Blockchain payments firm Partior has secured $80 million in its Series B funding round, with Deutsche Bank joining as a new investor.
The firm closed a funding round initially in July 2024 with participation from Peak XV Partners, J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group. The Sinagpore-based firm now sees Deutsche Bank joining as a new investor.
Blockchain Firm Backed by Financial Institutions
Partior was founded in 2021 and is backed by financial institutions like DBS Bank and J.P. Morgan. The firm is transforming global financial infrastructure with its blockchain-based platform.
The company provides real-time, clearing and settlement for cross-border transactions, offering liquidity, and transparency. Partior said it aims to overcome challenges commonly associated with sequential processing in legacy payment systems.
Funding will be used to strengthen Partior’s global expansion efforts and develop other functions such as intraday FX swaps. Deutsche Bank said it plans on joining as a Euro and US dollar settlement bank on the Partior platform.
Payments Sector Undergoing Significant Disruption
“The payments business is undergoing significant disruption due to rapid technological advancements and the push for greater financial inclusion,” said Patricia Sullivan, Deutsche Bank’s Global Head of Institutional Cash Management, in a press release.
“As the largest EUR clearer, Deutsche Bank is committed to leading this revolution by leveraging cutting-edge solutions to meet clients’ expectations for real-time, secure payments,” adds Sullivan.
Recently Deutsche Bank has been ramping up its involvement in the crypto space over the last few years. It applied for a digital asset custody license from Germany’s financial watchdog in June 2023, as part of its ongoing strategy to provide its clients with access to cryptocurrency markets and assets.
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