Partior Announces $60M+ Series B Round to Transform Clearing and Settlement Infrastructure Worldwide

The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA) and joined by Valor Capital Group and Jump Trading Group

Pioneering global unified ledger-based transactions, Partior is being utilised by major banks in financial markets including London, New York, Singapore, Frankfurt and Hong Kong. Live with USD, EUR and SGD, and with JPY, AED, BRL and others being onboarded soon

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Singapore, 12 July, 2024: 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. 

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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 stronger than ever. 

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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, 24x7 availability, and faster, more seamless payment flows.

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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 24x7 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. 

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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.

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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 tokenisation 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.  

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“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,” said Humphrey Valenbreder, Chief Executive Officer, Partior.

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“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,” said Pradyumna Agrawal, Managing Director, Investment (Blockchain), Temasek.

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“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 catalyse change in this industry. We couldn’t be more excited to join DBS, J.P. Morgan,  Standard Chartered and Temasek, as co-shareholders in this journey,” said Shailendra Singh, Managing Director, Peak XV.

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“After devoting a significant part of my career to solving some of the great challenges of global payments, I have seen firsthand how essential it is for the cross-border payments and settlements infrastructure to be modernised. We see tremendous potential in Partior to do just that. Their platform’s capability to streamline cross-border payments and FX settlement introduces new standards for global, real-time clearing and settlement. It also aligns with our vision of pushing the boundaries of innovation in financial services with blockchain technology. We are excited to support Partior in scaling their global network, advancing their technology, and believe Valor and existing and new shareholders can play a crucial role in the company’s next growth stage,” said Dan Schulman, Managing Partner at Valor Capital Group.

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"Partior's global unified ledger technology is pivotal in addressing existing industry challenges and has the potential to redefine how transactions are processed globally. We are proud to be part of this journey and we look forward to collaborating with Partior as they continue to innovate and expand their footprint," said Saurabh Sharma for Jump Trading Group.

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