Heaptalk, Jakarta — Singapore-based fintech Partior announced the first close of a US$60M+ Series B round led by Peak XV Partners and supported by Valor Capital Group and Jump Trading Group as new investors. Existing investors, such as J.P. Morgan, Standard Chartered, and Temasek, joined the funds.
This new funding round will enable new capabilities like Intraday FX swaps, Cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments. The investment will significantly support Partior’s international network growth and the integration of additional currencies, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, into its network. Partior is currently live with USD, EUR, and SGD.
“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,” CEO of Partior, Humphrey Valenbreder, said.
Partior’s unified ledger enables global financial market participants, including banks and payment service providers, to join its network and access real-time, cross-border, multi-currency clearing and settlement. Its 24×7 blockchain network can interoperate with real-time local currency payment and RTGS systems globally, facilitating direct and indirect settlement flows with market players.
Partior’s shared ledger service also enables transfers with real-time settlement finality that offers instant liquidity and transparency and overcomes shortcomings associated with sequential processing in legacy payment systems.
As is known, DSB, J.P Morgan, and Standard Chartered are using Partior services to simplify payments for their customers. Companies, including Siemens and iFAST Financial, have used Partior’s platform through Standard Chartered for better access and control of their working capital, 24×7 availability, more quickly, and seamless payment flows.
Leading bank companies have utilized pioneering unified ledger-based transactions, and this fintech startup is in financial markets, including London, New York, Singapore, Frankfurt, and Hong Kong. Live with USD, EUR, SGD, JPY, ED, BRL, and others will be onboarded soon.
“Partior is an extremely ambitious attempt to transform global money transfer and settlement amongst banks. It is a unique approach where multiple banks have come together to catalyze change in the industry. We could not be more excited to join DBS, J.P.Morgan, Standard Chartered, and Temasek as co-shareholders in the journey,” Managing Director at Peak XV, Shailendra Singh, said.
