Temasek-backed blockchain network Partior announces the second close of its series B funding round at US$80 million ($107.48 million), with Deutsche Bank joining as a strategic investor, according to a release dated Nov 27.
This is an addition of US$20 million to the US$60 million series B round first announced in July, led by PeakXV Partners formerly known as Sequoia Capital India and SEA, and joined by Valor Capital Group and Jump Trading Group.
The addition of Deutsche Bank’s investment will enhance Partior’s global reach by enabling solutions like intraday FX swaps and Just-in-Time multi-bank payments. Additionally, Deutsche Bank plans to join the Partior platform as a Euro and US dollar settlement bank, reads the release.
Partior says that it has also processed over $1 billion in transaction value. The blockchain settlement network was incorporated in 2021, and is backed by DBS, JP Morgan, Standard Chartered and Temasek Holdings.
“Deutsche Bank’s investment and collaboration are a powerful validation of our vision to transform global financial infrastructure,” said Humphrey Valenbreder, CEO of Partior.
Partior's platform currently supports US dollar, Euro, and Singapore dollar. It plans to integrate additional currencies such as the Australia dollar, Stirling pound, Malaysian ringgit, Japanese Yen, among others.
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“Deutsche Bank, as the largest Euro 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 institutional cash management, Deutsche Bank.
