Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Singapore-based fintech start-up Partior, a joint venture between JP Morgan, DBS Bank and Singapore government-owned investment firm Temasek founded in 2021, has secured more than $60 million in a Series B funding round.
Partior secures more than $60m in Series B funding
The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA) with additional participation from new backers Valor Capital Group and Jump Trading Group alongside existing shareholders JP Morgan, Standard Chartered and Temasek.
Partior has developed a “global unified ledger” based on blockchain technology that enables financial services players, including banks and payment service providers (PSPs), to access interbank rails for “real-time, cross-border, multi-currency clearing and settlement”.
The fintech says that its blockchain network “can interoperate with real-time local currency payment and RTGS systems globally” and enables both direct and indirect settlement flows between companies.
It also adds that its shared ledger “enables transfers with real-time settlement finality that offers instant liquidity and transparency, and overcomes shortcomings associated with sequential processing in legacy payment systems”.
Partior claims its platform is currently being used to facilitate payments by “major banks” in London, New York, Singapore, Frankfurt and Hong Kong, including founding companies DBS and JP Morgan as well as Standard Chartered (which invested in the fintech and became a founding shareholder in 2022, serving as the first euro settlement bank for the Partior platform).
The fresh funding will be used to add support for additional currencies and to further develop new platform capabilities including cross-currency repos, intraday FX swaps and programmable enterprise liquidity management.
