German banking conglomerate Deutsche Bank joined the second Series B funding round held by blockchain firm Partior, bringing its total funding raised across the series to $80 million.
Founded in 2021, Partior began Series B fundraising in June 2024 after closing a successful Series A round at $31 million in 2022. To date, the firm boasts more than $111 million raised across both series.
Its A series was reportedly led by Standard Chartered Bank, with the participation of founding shareholders JPMorgan Chase, DBS Bank and Temasek. The Series B round was led by Peak XV Partners.
Cointelegraph’s post on X.com covering the news sparked conversation on the social media platform. Source: Cointelegraph
Fiat to blockchain
According to Humphrey Valenbreder, CEO of Partior, the company’s mission is to foster “secure and instant cross-border transactions for financial institutions worldwide.”
“Deutsche Bank’s investment and collaboration are a powerful validation of our vision to transform global financial infrastructure,” said Valenbreder, who was quoted in a company blog post.
Valenbreder said the firm had processed more than $1 billion worth of transactions.
Partior’s primary product is its “global unified ledger,” a blockchain-based bridge facilitating real-time, cross-border, multicurrency clearing and settlement for financial institutions.
Related: OpenAI secures $1.5B funding from SoftBank, allows employees to cash out
Economic uncertainty sparks currency devaluation
Partior’s latest funding round closes amid a period of global economic disruption. In November alone, economic uncertainty stemming from the ongoing conflicts in the Middle East and Europe as well as the impending Donald Trump presidency in the US, has contributed to the reversal of years’ long trends for numerous fiat currencies, including hefty dips for both the Canadian dollar and the Mexican peso.
With fiat institutions subject to the trickle-down effect of a centralized financial system, institutions around the world are increasingly turning to non-traditional banking solutions with blockchain technology firms positioned to be chief among the beneficiaries.
According to Deutsche Bank’s global head of institutional cash management Patricia Sullivan, “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.”
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