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November 28, 2024 – Partior, the leading blockchain-based financial market infrastructure platform, today announced the successful close of its Series B funding round, securing a total of US$80 million. This latest investment was spearheaded by Deutsche Bank, a global banking giant, further solidifying Partior’s position as a transformative force in the financial industry.
This funding round follows an initial US$60 million raised in July 2024, led by Peak XV Partners (formerly Sequoia Capital India & Southeast Asia) with participation from prominent investors including J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group. Deutsche Bank's strategic investment brings the total Series B funding to US$80 million and underscores the growing recognition of Partior's innovative approach to cross-border payments and settlements.
Partior is revolutionizing how money moves globally by leveraging a decentralized, programmable, and always-on platform built on a unified ledger. This innovative approach optimizes liquidity access and enables the development of new financial products and capabilities. The platform addresses key industry challenges, including settlement delays, limited transaction transparency, and high operating costs, by offering real-time, cross-border, multi-currency payments, Payments versus Payments (PvP), Delivery versus Payments (DvP) settlements, and trade finance functions.
Key benefits of the Partior platform:
- 24/7 Availability: Facilitates real-time processing and settlement with no cut-off times.
- Real-time & Atomic Settlement: Ensures instant and simultaneous exchange of value, eliminating counterparty risk.
- Interoperability: Seamlessly connects with both digital and non-digital asset and currency networks.
- Transparency: Provides complete visibility into transaction status throughout the entire process.
- Programmability: Enables the automation and customization of complex financial transactions.
- Enhanced Security: Leverages blockchain technology to ensure the immutability and security of transactions.
Deutsche Bank's Strategic Partnership and Investment:
Deutsche Bank's investment marks a significant milestone for Partior and reflects the growing adoption of blockchain technology by traditional financial institutions. As a strategic investor, Deutsche Bank will also join the Partior platform as a Euro and US dollar settlement bank, further expanding the platform's reach and capabilities. This partnership aligns with Deutsche Bank's dbX initiative, a correspondent banking ecosystem designed to optimize client services for financial institutions.
"The payments business is currently undergoing an extensive period of disruption, driven by rapid technological advancements and the demand for greater financial inclusion and transparency," said Patricia Sullivan, Global Head of Institutional Cash Management at Deutsche Bank. "Deutsche Bank, as the largest EUR clearer, is excited to be at the forefront of this revolution and leverage cutting-edge technology to enhance the speed, transparency, and security of payments expected by clients and peers."
Partior's Growth and Future Plans:
Partior has already processed over US$1 billion worth of transactions, demonstrating the growing industry confidence in its platform. With the new funding, Partior plans to scale its operations globally, enhance its cross-border capabilities, and develop new functionalities like Intraday FX swaps and Just-in-Time multi-bank payments. The platform currently supports USD, EUR, and SGD transactions and plans to integrate additional currencies, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR. Partior is actively expanding its presence across the Americas, EMEA, and Asia, collaborating with banks, central banks, and fintech firms to drive broader adoption of its innovative platform.
“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."
About Partior:
Founded in 2021 by DBS Bank, J.P. Morgan, Standard Chartered, and Temasek, Partior is a leading blockchain-based financial market infrastructure platform that enables real-time clearing and settlement of cross-border transactions. Partior's innovative platform addresses the inefficiencies of legacy payment systems by providing enhanced transparency, instant liquidity, and improved security.
About Deutsche Bank:
Deutsche Bank is a leading global investment bank with a strong presence in corporate and investment banking, private banking, and asset management. The bank provides a wide range of financial products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.
Compiled by CMO Intern team
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