30s Summary

Deutsche Bank has invested in blockchain firm Partior during a funding round that raised $80m. The round comes as financial institutions seek alternatives like blockchain to the current unstable economic conditions. Partior has managed to raise a total of $111m in funding since its launch in 2021. The company’s principal offering is a blockchain-based universal ledger aimed at enabling real-time and multiregional transactions. 

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Deutsche Bank has thrown its weight behind blockchain company Partior, by participating in a funding round that raised $80 million.

Partior was started in 2021 and successfully managed to fundraise $31 million in a Series A round in 2022. As of now, the firm has raised a whopping $111 million across all its funding rounds. The first round was led by Standard Chartered Bank with founding shareholders JPMorgan Chase, DBS Bank and Temasek also participating, while the second round was guided by Peak XV Partners.

Humphrey Valenbreder, the big kahuna at Partior, says the company’s mission is to make cross-border transactions smooth, quick and safe for financial institutions all over the world. He takes Deutsche Bank’s investment as a big thumbs-up for their vision to revolutionize the global financial structure.

The firm’s centerpiece is its ‘global unified ledger,’ a blockchain-based platform that aims to enable real-time, multicurrency settlements and clearings across borders for financial institutions.

The latest funding round for Partior happens at a time when the world is seeing major economic upheaval. Factors like the continued unrest in the Middle East and Europe, coupled with the uncertainty around Trump’s presidency in the US, have led to big currency falls, most notably the Canadian dollar and the Mexican peso.

With the current shaky global financial scene, more and more institutions are gravitating towards alternate banking solutions like the blockchain technology, and companies like Partior are set to gain the most. Patricia Sullivan, the top honcho for institutional cash management at Deutsche Bank shares that the payments sector is seeing major changes mainly because of new technology and the push for more financial inclusion and transparency.