Triple-A is making waves in the financial technology industry with the announcement of their successful $10m Series A funding round.
The investment was led by Peak XV Partners (formerly known as Sequoia India & South East Asia), along with support from Shorooq Partners, a prominent technology investor in the MENA region. The recent cash influx follows an earlier seed investment of $4m, which served as the foundation for Triple-A’s platform. This subsequent investment reaffirms the confidence of existing investors in the company’s potential and the strength of its team.
The organisation aims to utilise the funds to build a more efficient global payment ecosystem by bridging the gap between traditional finance and blockchain backed payments.
Triple-A has been at the forefront of digital, stablecoin, and blockchain-based payment solutions since its inception in 2017. The firm has a global presence, with a team of over 70 employees situated in strategic locations such as Singapore, Miami, Hong Kong, Paris, and Barcelona.
Triple-A has obtained licenses and regulatory approvals from key authorities, including the Monetary Authority of Singapore (MAS) and the Central Bank of France, enabling them to conduct payment transactions across all EU member states. Furthermore, they are registered with the United States Financial Crimes Enforcement Network (FinCEN).
A diverse range of merchants, including well-known names such as Farfetch, Charles and Keith, Singapore Red Cross, Razer, and Reap, utilise Triple-A’s services to offer cryptocurrency as a payment option.
“We believe that stablecoins and other digital currencies are transforming cross-border transactions, with instant, 24/7 transfers. Triple-A is building a full suite of products for businesses to receive, manage and transfer funds globally.” said Eric Barbier, Founder and CEO of Triple-A.
“Blockchain-based digital infrastructure provides real value in cross-border payments in terms of speed and liquidity of flows. These infrastructure rails including stablecoins and centrally backed digital currencies (CBDCs) have the potential to transform how global businesses transact money more efficiently. Licensed by major regulators in Singapore and Europe, Triple-A is building a compliant and steady foundation to enable this future,” Aakash Kapoor, Vice President at Peak XV added.
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