Partior, a blockchain settlement network and fintech services firm backed by JP Morgan, Standard Chartered, and Temasek, announced the successful closure of a $60 million Series B funding round on July 12. The round was led by Peak XV Partners and supported by Valor Capital Group and Jump Trading Group, with continued backing from DBS, JP Morgan, Standard Chartered, and Temasek.
Funds for Global Ledger Expansion
According to a blog post from Partior, the newly acquired funds will be used to advance the company’s global unified ledger. This blockchain-based bridge facilitates real-time, cross-border, multi-currency clearing and settlement for financial institutions, including banks and payment service providers.
“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,” Partior stated. 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.
Partior’s Mission and Growth
Founded in Singapore in 2021 by JP Morgan, DBS, and Temasek, Partior aims to reduce friction and delays in cross-border payments, trade transactions, and foreign exchange settlements. The latest funding round marks a significant milestone in the firm’s growth and development.
Also Read: CEO of JP Morgan Chase Says He Would Shut Down Crypto Operations
Leading the Funding Round: Peak XV Partners
The Series B funding round was led by Peak XV Partners, a group spun out of Sequoia Capital in June 2023 to decentralize its operations. Peak XV Partners represents the Indian and Southeast Asian arm of the former conglomerate.
Shailendra Singh, Managing Director of Peak XV, described Partior’s mission as ambitious and expressed excitement over the funding round. “Partior is an extremely ambitious attempt to transform global money transfer and settlement amongst banks. It’s a unique approach where multiple banks have come together to catalyze change in this industry. We couldn’t be more excited to join DBS, JP Morgan, Standard Chartered, and Temasek as co-shareholders in this journey,” Singh stated.
