Partior, a Singapore-based fintech firm that provides ledger-based interbank services for real-time clearing and settlement, has raised over US$60 million in a Series B funding round led by Peak XV Partners (formerly Sequoia Capital India and SEA).

Also supporting the fundraise were Valor Capital Group and Jump Trading Group as new investors and J.P. Morgan, Standard Chartered and Temasek as existing shareholders.

DBS, J.P. Morgan and Standard Chartered are using Partior to facilitate payments for their customers. Companies such as Siemens and iFAST Financial have used the platform through Standard Chartered for better access and control of their working capital, 24x7 availability, and faster, more seamless payment flows.

Traditional cross-border payments face several challenges, including delays, high costs, lack of transparency on timings, multiple intermediaries, variable processing speeds, and differing compliance standards across correspondent banks.

Inefficiencies persist as companies rely on legacy infrastructure and manual processes, limiting the real-time settlement of FX transactions.

Partior’s global unified ledger enables financial market participants, including banks and payment service providers, to join its network and access real-time, cross-border, multi-currency clearing and settlement. Its 24x7 blockchain network can interoperate with local currency payment and RTGS systems, offering instant liquidity and transparency.

The company will use the proceeds from the latest fundraise to implement new capabilities such intraday FX swaps, cross-currency repos, programmable enterprise liquidity management, and just-in-time multi-bank payments.

The investment will also allow Partior to integrate additional currencies into its network. The company is currently operating live with the US dollar, euro, and Sing dollar.