Partior, the fintech firm backed by several banks and known for its ledger-based interbank system for real-time clearing and settlement, has secured a $20 million investment from Deutsche Bank. This investment brings the total for Partior’s Series B funding round to $80 million.
This funding round concludes Partior’s second phase, following an initial closing in July 2024 led by Peak XV Partners, with participation from notable firms such as JPMorgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group.
Partior originated from Project Ubin, a blockchain-based prototype for multi-currency payments developed by the Monetary Authority of Singapore in collaboration with JPMorgan and Temasek. The platform features a unified ledger that enables global banks and payment service providers to connect within its network for real-time, cross-border, multi-currency clearing and settlement. Its 24/7 blockchain infrastructure is designed to integrate with local currency payment systems and real-time gross settlement (RTGS) systems worldwide.
Institutions like JPMorgan, Standard Chartered, and DBS, who are also founding investors, utilize the platform to enhance their customers’ payment processes. Companies such as Siemens and iFAST Financial have leveraged Partior through Standard Chartered for improved access to working capital and faster payment flows.
To date, over $1 billion in transaction value has been processed through the network. Deutsche Bank aims to participate as a euro and US dollar settlement bank, building on its recent launch of dbX, a next-generation correspondent banking network.
Patricia Sullivan, Deutsche Bank’s global head of institutional cash management, expressed enthusiasm for being at the forefront of this transformation in payments, noting the significant changes driven by technological advancements and the push for greater financial inclusion and transparency. She emphasized Deutsche Bank’s commitment to enhancing the efficiency and security of payments for its clients.
With Deutsche Bank’s investment, Partior plans to expand its global footprint, enhance its cross-border capabilities, and develop innovative features such as intraday FX swaps and just-in-time multi-bank payments.