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Partior, a Blockchain Payment Network, Raises $60M in Series B Funding Round led by Peak XV Partners

Writer's picture: TinaTina

Blockchain Payment Network

July 12, 2024


Partior, a blockchain payment platform supported by major banks such as JPMorgan (JPM), DBS (D05), and Standard Chartered (STAN), has secured $60 million in a Series B funding round. The funding round was spearheaded by Peak XV Partners and saw participation from Valor Capital Group and Jump Trading Group, as revealed in an email announcement on Friday. JPMorgan, Standard Chartered, and existing investor Temasek also participated in the round.

Project

Latest Raise

Latest Raise Date

Stage

Lead Investor

Category

Partior

$60M

July  12, 2024

Series B

Peak VX Partners

FinTech

Partior is a collaborative effort between DBS, JPMorgan, and Standard Chartered with the objective of creating a unified blockchain-based interbank payment system for immediate clearing and settlement.


The newly raised funds will be utilized to enhance Partior's capabilities in intraday foreign-exchange (FX) swaps and cross-currency repurchases. The use of blockchain technology to accelerate such banking procedures has become quite standard.


JPMorgan's Onyx network has settled transactions worth hundreds of billions of dollars since it was launched a few years ago. Recently, Fidelity used Onyx to tokenize shares in a money market fund.


About Partior

Partior is a company that is transforming the way money moves globally by optimizing how liquidity is accessed and enabling the development of new capabilities and products through a unified ledger. It operates a decentralized, programmable, and 24x7 always-on platform that makes the global movement of liquidity more seamless, secure, and scalable.


The company’s platform addresses the operating inefficiencies experienced by industry players, including settlement delays, limited transaction transparency, and high operating costs. It facilitates the movement of liquidity for financial institutions and their customers. The network interoperates with both digital and non-digital asset and currency networks to provide a comprehensive suite of real-time, cross-border multi-currency payments, Payments versus Payments (PvP), Delivery versus Payments (DvP) settlements, and trade finance functions


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About Investor

Investor: Peak VX Partners

Peak XV Partners, formerly known as Sequoia Capital India & SEA, is a leading venture capital and growth investing firm. The firm has been operating in the region for over 17 years and manages over $9 billion in capital across 13 fund. They have invested in over 400 companies, with approximately 40 of those companies achieving revenues of over $100 million.


The firm’s team, which spans 14 nationalities, works across five offices located in Bangalore, Mumbai, Delhi, Singapore, and Dubai. In addition to the investment team, the firm consists of over 60 operators that work with their portfolio companies across various areas such as Human Capital, Strategic Development, Marketing, Public Policy, Portfolio Finance, and Technology & Product


Location: Bangalore, Karnataka




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