Partior Series B funding reaches $80M on Deutsche Bank investment

by

As an analyst with over two decades of experience in the global financial markets, I have witnessed numerous transformations and disruptions in the industry. The recent investment by Deutsche Bank into blockchain firm Partior is not just another funding round; it signifies a significant step forward in the evolution of cross-border transactions.

In simpler terms, Deutsche Bank, a significant German financial institution, participated in the second round of investment for Partior, a company specializing in blockchain technology. This participation increased the overall funds raised during this Series B round to $80 million.

Established in 2021, Partior kick-started its Series B fundraising campaign in June 2024, following a highly successful Series A round that closed at $31 million in 2022. To date, the company has amassed over $111 million in total funds raised across both rounds.

According to reports, it was Standard Chartered Bank that spearheaded the A series, while JPMorgan Chase, DBS Bank, and Temasek were also among the initial investors. On the other hand, the Series B round was spearheaded by Peak XV Partners.

Read more$70 million in 24 hours: Can Ethereum crack $4,000 thanks to whales?

Fiat to blockchain

As per Humphrey Valenbreder, the CEO of Partior, their goal is to promote “swift and secure cross-border financial transactions globally for financial institutions everywhere.

In a company blog post, Valenbreder stated that Deutsche Bank’s investment and partnership serve as strong proof of the validity of our mission to revolutionize the worldwide financial system infrastructure.

Valenbreder said the firm had processed more than $1 billion worth of transactions.

Read moreBitcoin halving could be a ‘sell-the-news’ event, at least for a few months

As an analyst, I’d express it this way: My focus revolves around Partior’s flagship offering, a cutting-edge global unified ledger. This innovative blockchain technology serves as a seamless bridge, enabling real-time, cross-border transactions involving multiple currencies for financial institutions on a global scale, simplifying the process of clearing and settlement.

Economic uncertainty sparks currency devaluation

Partior recently concluded its funding round during a time when worldwide economic stability is being challenged. In November specifically, doubts about the future caused by ongoing conflicts in the Middle East and Europe, as well as the upcoming presidency of Donald Trump in the U.S., have led to a reversal of long-term trends for various fiat currencies. For instance, significant drops were experienced by both the Canadian dollar and the Mexican peso during this period.

As traditional financial institutions are influenced by the “top-down” impact of a centralized monetary structure, there’s a growing trend worldwide for these institutions to explore unconventional banking alternatives. Notably, companies specializing in blockchain technology seem poised to reap significant benefits from this shift.

As stated by Patricia Sullivan, the global head of institutional cash management at Deutsche Bank, the field of payments is experiencing a significant phase of upheaval, chiefly due to the swift progression of technology and the desire for enhanced financial accessibility and openness.

Read More

2024-11-28 20:26