The fintech company Partior, situated in Singapore, has declared the first close of a Series B round worth over $60 million, spearheaded by Peak XV Partners.
In a statement released on Monday, Partior said that existing shareholders Temasek, J.P. Morgan, and Standard Chartered, as well as Jump Trading Group, are all participating in the funding round. Valor Capital Group is also supporting the initiative.
Partior stated that its dedication to advancing the current financial market infrastructure and boosting financial connectivity globally is stronger than ever, with support from its founding shareholders, DBS, J.P. Morgan, Standard Chartered, and Temasek.
This new round of funding, according to the statement, will help advance new capabilities like just-in-time multi-bank payments, programmable enterprise liquidity management, intraday FX swaps, and cross-currency repos.
Partior’s international network expansion and the addition of new currencies, such as AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, to its network will both be greatly aided by the investment.
It is mentioned that Partior accepts USD, EUR, and SGD at this time.
“Partior is breaking down silos and rewriting the rules for cross-border clearing and settlement. 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,” said Humphrey Valenbreder, Chief Executive Officer, Partior.
Global unified ledger-based interbank rails for real-time clearing and settlement are provided by the fintech startup Partior.
The company was founded in 2021 and is an independent business that developed out of the Project Ubin partnership, which was supported by the Monetary Authority of Singapore.
DBS, J.P. Morgan, Standard Chartered, and Temasek are among its original investors.
The primary focus of Partior is to mitigate the operational inefficiencies encountered by industry participants, such as high operating costs, limited transaction transparency, and settlement delays, while also streamlining the flow of liquidity for financial institutions and their clientele.
