Blockchain payments company Partior has raised $80 million in a Series B funding round, with Deutsche Bank joining as a new investor.
The company closed the 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 Sinagpur-based company announced that Deutsche Bank is joining as a new investor.
Partior was founded in 2021 and is backed by financial institutions such as DBS Bank and J.P. The company is transforming the 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.
The funds will be used to strengthen Partior’s global expansion efforts and develop other functions, such as intra-day currency swaps. Deutsche Bank said it plans to join as a euro and US dollar clearing bank on Partior’s platform.
The payments sector is going through significant disruption
“The payments business is going through significant disruption due to rapid advances in technology and the drive for greater financial inclusion,” – Patricia Sullivan, global head of institutional cash management at Deutsche Bank, said in a press release.
“As the largest EUR clearer, Deutsche Bank is committed to leading this revolution, using cutting-edge solutions to meet customers’ expectations for secure, real-time payments,” Sullivan added.
More recently, Deutsche Bank has increased its involvement in the cryptocurrency space over the past few years. In June 2023, it applied for a digital asset custody license from Germany’s financial regulator as part of an ongoing strategy to provide clients with access to cryptocurrency markets and assets.
