Partior, a blockchain fintech for real-time clearing and settlement, has completed its Series B funding round, raising a substantial $80m.
This round saw significant participation from a consortium of investors including Deutsche Bank, which joined as a strategic investor, alongside other notable entities such as Peak XV Partners, J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group.
Partior operates a cutting-edge platform that enables real-time, atomic clearing and settlement of transactions. This system not only provides instant liquidity and transparency but also offers enhanced security and efficiency by overcoming the limitations of sequential processing found in traditional payment systems.
The fresh influx of capital will be directed towards expanding Partior’s global reach and scaling up its cross-border capabilities. Specific innovations set to benefit from this funding include the development of Intraday FX swaps and Just-in-Time multi-bank payments, furthering the company’s mission to streamline financial transactions worldwide.
Additionally, Deutsche Bank plans to integrate itself as a Euro and US dollar settlement bank within the Partior platform. This move is aligned with the bank’s goal to empower its customers with secure, scalable, and real-time settlement solutions, complementing its recent launch of dbX, a next-generation correspondent banking ecosystem.
Partior has marked a significant milestone in its journey by processing over $1bn in transactions, reflecting the industry’s growing confidence in its platform. This achievement underscores the platform’s capability to address longstanding inefficiencies in the financial sector, such as settlement delays, limited transparency, and high operational costs. By eliminating intermediaries, Partior simplifies the clearing and settlement process for global financial market participants, including banks and payment service providers.
Patricia Sullivan, global head institutional cash management at Deutsche Bank, highlighted the transformative impact of technology on the payments business. “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,” she said.
Echoing this sentiment, Humphrey Valenbreder, chief executive officer of Partior, noted, “Deutsche Bank’s investment and collaboration are a powerful validation of our vision to transform global financial infrastructure. With their support, we will accelerate our mission to deliver seamless, secure, and instant cross-border transactions for financial institutions worldwide.”
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