Deutsche Bank has joined the extended Series B funding round for blockchain-based fintech firm Partior, bringing the total raised to US$80 million and marking the close of the round.
The Series B initially secured US$60 million in July 2024, led by Peak XV Partners, with participation from J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group.
Deutsche Bank’s additional investment reinforces Partior’s plans to scale its operations globally and enhance cross-border capabilities as well as develop functions like Intraday FX swaps and Just-in-Time multi-bank payments.
The bank plans to act as a Euro and US dollar settlement bank on Partior’s platform, aligning with its dbX initiative—a correspondent banking ecosystem launched to optimize financial institution client services.
Established in 2021 and backed by DBS Bank, J.P. Morgan, Standard Chartered, and Temasek, Partior uses blockchain technology to enable real-time clearing and settlement.
The platform addresses inefficiencies in legacy payment systems by offering improved transparency, instant liquidity, and enhanced security.
Currently supporting USD, EUR, and SGD transactions, Partior plans to integrate additional currencies such as AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR.
The platform is expanding its presence across the Americas, EMEA, and Asia, collaborating with banks, central banks, and fintech firms to drive adoption.
“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,”
said Patricia Sullivan, Global Head Institutional Cash Management, Deutsche Bank.
“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.
We are also proud to announce that we have now processed over USD 1 billion in value worth of transactions, marking a significant milestone in our journey and the growing industry belief in our platform.”
said Humphrey Valenbreder, Chief Executive Officer of Partior.
This investment comes despite Partior reporting a 75% surge in losses for 2023, attributed to rising expenses related to the company’s expansion efforts.
However, the company reported US$285,000 in revenue for 2023 compared to the previous year’s lack of income.
Notably, in July 2024—the same month it announced the initial US$60 million raise—Partior laid off a significant portion of its workforce, reducing its staff from over 130 to approximately 90 employees.
Several individuals, including those in leadership positions like Atul Bhuchar, departed shortly thereafter for reasons unknown.
Featured image credit: Edited from Freepik
