Deutsche Bank adds $20m to Partior Series B as new strategic investor
Singapore-based Partior has secured an extra $20 million in Series B funding with the addition of Deutsche Bank as a strategic investor.
Partior secures Deutsche Bank as new investor
The fintech initially raised more than $60 million through the round back in July. The round was led by Peak XV Partners and drew participation from Valor Capital Group and Jump Trading Group as new backers, and existing shareholders Standard Chartered, JP Morgan and Singapore government-owned investment firm Temasek.
JP Morgan and Temasek previously joined hands with DBS Bank to launch Partior in 2021. The start-up provides interbank rails for real-time, atomic clearing and settlement using a blockchain-based network. According to its CEO, Humphrey Valenbreder, the platform has now processed over $1 billion worth of transactions.
In its latest statement, Partior says it will use the investment from Deutsche Bank to “further bolster its global reach and scale its cross-border capability”.
It will also look to develop “functions like Intraday FX swaps and Just-in-Time multi-bank payments”.
In exchange for the investment, Deutsche Bank intends to join the Partior platform as “a Euro and US dollar settlement bank”, as a means to complement its correspondent banking suite of tools, dbX, which the bank introduced last month.
