Partior, a fintech company with global unified ledger-based interbank rails for real-time clearing and settlement, has 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, and J.P. Morgan, Standard Chartered and Temasek as existing shareholders.
With continued support from its founding shareholders, DBS, J.P. Morgan, Standard Chartered and Temasek, Partior’s commitment “to enhancing current financial market infrastructure and improving financial connectivity worldwide is strong.”
DBS, J.P. Morgan and Standard Chartered are “using Partior to facilitate 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, and faster, more seamless payment flows.”
Improving liquidity management for both corporate and financial institutions “is imperative in a world where many companies operate round the clock globally.”
The journey of traditional cross-border payments faces several challenges, “including delays, high costs, lack of transparency on timings, multiple intermediaries, variable processing speeds, and differing compliance standards across correspondent banks.”
Similarly, FX settlement inefficiencies persist “due to the reliance on legacy infrastructure and manual processes, limiting the real-time settlement of foreign exchange transactions.”
These inefficiencies with both payments and FX “not only result in higher operational costs for corporate and financial institutions, but also come with risks including delays and settlement failures.”
Partior’s global 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, and facilitates both direct and indirect settlement flows with market players.”
Partior’s shared ledger 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.”
This new round of funding will “enable the advancement of 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.
According to a report by BIS (Bank for International Settlements), existing correspondent banking processes have “struggled to adapt to new regulatory and supervisory requirements.”
The tokenization of correspondent banking could “unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering (AML) procedures.”
Partior is working to unify global liquidity “by interlinking digital asset platforms with its next-generation settlement technology.”
Humphrey Valenbreder, Chief Executive Officer, Partior said:
“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.”
Pradyumna Agrawal, Managing Director, Investment (Blockchain), Temasek:
“As one of the founding shareholders of Partior, we’ve always believed in the transformative potential of its technology to shape global financial market infrastructure. This latest round of investment is a testament to the incredible progress Partior has made towards this endeavour. We look forward to welcoming new investors and financial institutions to Partior and jointly supporting Partior in their mission to create a more seamless and efficient financial ecosystem worldwide.”
