Triple-A raises $10M Series A from Peak XV and Shorooq Partners to be the most regulated payment institution for digital currency worldwide
Summary
Leading the round are repeat investors Peak XV Partners (formerly known as Sequoia India & South East Asia), along with the strategic backing of Shorooq Partners, one of MENAs leading technology investors.Founded in 2017 by serial fintech founder Eric Barbier, Triple-A has pioneered digital, stablecoin and blockchain led payments, enabling global businesses to pay and get paid faster, 24/7, and without any currency volatility risk, all while upholding the highest regulatory compliance standards.Triple-A is licensed by MAS (Monetary Authority of Singapore) as a Payment Institution. They will continue to strengthen their regulatory framework in countries across the globe to ensure merchants using Triple-A operate in a safe and compliant environment.The companys mission is to build a more efficient global payment ecosystem by bridging the gap between traditional finance and blockchain backed payments.Merchants such as Farfetch, Charles and Keith, Singapore Red Cross, Razer and Reap also use Triple-A to offer cryptocurrency as a form of payment. Several existing investors who recognised Triple-As potential early on also participated in the current Series A round, reaffirming their confidence in the company and team.Triple-A has a diverse team of over 70 employees and maintains a global presence with offices strategically located in Singapore, Miami, Hong Kong, Paris and Barcelona. These infrastructure rails including stablecoins and centrally backed digital currencies (CBDCs) have the potential to transform how global businesses transact money more efficiently. Shorooq Partners has backed market leading disruptors including Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo.
Funding
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