This week, Partior, a blockchain-based Fintech for real-time clearing and settlement, announced that Deutsche Bank joined its Series B funding round as a strategic investor, bringing the total investment to $80 million. The funds are earmarked for product development and geographical expansion.
This marks the close of the second round in Partior’s Series B funding and follows the first close led by Peak XV Partners in July 2024 with participation from J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek and Valor Capital Group.
Founded in 2021 and backed by DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV, Partior enables real-time atomic clearing and settlement. Deutsche Bank intends to join as a Euro and US dollar settlement bank on the Partior platform. This also complements Deutsche Bank’s recent launch of dbX, a correspondent banking ecosystem designed to optimize and expand its financial institution client services.
“The payments business is currently undergoing an extensive period of disruption, primarily due to the rapid advancement of technology and drive for greater financial inclusion and transparency. Deutsche Bank, as the largest EUR clearer, is excited to be a leader in this revolution and harness cutting-edge technology to enhance the speed, transparency, and security of payments expected by clients and peers alike,” said Patricia Sullivan, global head of institutional cash management for Deutsche Bank.
“Deutsche Bank’s investment and collaboration are a powerful validation of our vision to transform global financial infrastructure,” added Partior CEO Humphrey Valenbreder. “With their support, we will accelerate our mission to deliver seamless, secure, and instant cross-border transactions for financial institutions worldwide. We are also proud to announce that we have now processed over USD 1 billion in value worth of transactions, marking a significant milestone in our journey and the growing industry belief in our platform.”
Partior’s blockchain-based network addresses settlement delays, limited transparency, and high operating costs. By removing the need for intermediaries, Partior said it simplifies the clearing and settlement process for global financial market participants, including banks and payment service providers. Its 24×7 blockchain network also interoperates with real-time local currency payment and RTGS systems globally and facilitates both direct and indirect settlement flows with market players.
The platform currently supports USD, EUR, and SGD, with plans to integrate additional currencies including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR.
