Partior Secures $80 Million in Series B Funding
Blockchain payments firm Partior has successfully raised $80 million in its Series B funding round, with Deutsche Bank stepping in as a new investor. This significant investment reflects the growing interest in innovative financial technologies and blockchain solutions.
Funding Round Details
The latest funding round originally commenced in July 2024, featuring notable participation from prestigious investors including Peak XV Partners, J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group. With Deutsche Bank’s involvement, Partior strengthens its position within the financial technology landscape.
About Partior
Founded in 2021, Partior is a Singapore-based company dedicated to revolutionizing global financial infrastructure using blockchain technology. The firm aims to enhance the efficiency of cross-border transactions through real-time clearing and settlement, addressing the liquidity and transparency challenges posed by traditional payment systems.
Innovative Solutions for Global Payments
Partior’s platform seeks to eliminate the inefficiencies of legacy payment systems, specifically the delays caused by sequential processing. By merging Partior’s real-time blockchain settlement capabilities with Nium’s extensive global reach, the firm aspires to create a future where cross-border payments are instant, transparent, and accessible for everyone.
As stated by Ozgul Erkis Gozum, “We’re empowering financial institutions to break down long-standing barriers.” The ambition to facilitate instantaneous payments is a key driver of Partior’s mission.
Capital Utilization for Growth and Expansion
The funds raised in this latest round will play a crucial role in bolstering Partior’s global expansion efforts. Additionally, the investment will contribute to the development of new features, including intraday foreign exchange (FX) swaps. Deutsche Bank plans to participate as a Euro and US dollar settlement bank on the Partior platform, further solidifying its commitment to this innovative payment solution.
The Disruption of the Payments Sector
The payments industry is experiencing profound disruption fueled by rapid technological advancements and a heightened emphasis on financial inclusion. Patricia Sullivan, Deutsche Bank’s Global Head of Institutional Cash Management, remarked on this transformation in a press release. She emphasized that “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.”
Deutsche Bank’s Expansion into Crypto
In addition to its investments in blockchain technology, Deutsche Bank has been increasing its footprint in the cryptocurrency space. The bank applied for a digital asset custody license from Germany’s financial watchdog in June 2023. This license is part of Deutsche Bank’s broader strategy to offer its clients enhanced access to cryptocurrency markets and digital assets.