Partior, a pioneering FinTech company specializing in blockchain-based clearing and settlement, has announced a major milestone by securing over $60 million in the first part of their Series B funding round.
This round was led by Peak XV Partners, with significant contributions from new investors Valor Capital Group and Jump Trading Group. Existing backers such as J.P. Morgan, Standard Chartered, and Temasek also reaffirmed their support.
At the forefront of transforming financial market infrastructures, Partior utilizes unified ledger technology to enable banks and financial institutions to execute real-time, cross-border transactions in multiple currencies. Currently, the platform supports USD, EUR, and SGD, with plans to soon include JPY, AED, BRL, and other currencies.
The newly raised funds are set to drive several ambitious projects, including the development of intraday FX swaps, cross-currency repos, and programmable enterprise liquidity management. These advancements are aimed at enhancing the efficiency of global payment systems and fostering just-in-time multi-bank payments.
Recognized as a potential game-changer for the industry, Partior’s initiative could significantly improve pre-screening and settlement processes, as well as enhance customer verification and anti-money laundering measures, according to the Bank for International Settlements.
“Partior is breaking down silos and rewriting the rules for cross-border clearing and settlement,” said Humphrey Valenbreder, Chief Executive Officer of Partior. “We see a very bright future for blockchain-based, frictionless, cross-border transactions. Having some of the world’s best banks and investors back our vision validates this even further.”
Shailendra Singh, Managing Director of Peak XV, added, “Partior is an extremely ambitious attempt to transform global money transfer and settlement among banks. It’s a unique approach where multiple banks have come together to catalyze change in this industry. We couldn’t be more excited to join DBS, J.P. Morgan, Standard Chartered, and Temasek as co-shareholders in this journey.”
Partior’s continued expansion and innovation underscore its commitment to revolutionizing the financial industry and enhancing global financial infrastructure.
