Triple-A raises $10m in Series A from Peak XV & Shorooq Partners
By Gloria Mathias
Triple-A has received $10 million in a Series A funding round. Leading the round are repeat investors Peak XV Partners and Shorooq Partners, one of MENA’s technology investors.
Founded in 2017 by 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 licenced by MAS as a payment institution. The company also holds a Payment Institution Licence from the Central Bank of France, allowing it to execute payment transactions across all EU member states.
The company’s 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. Dominant currencies include USDT, USDC, ETH, and BTC.
Over a year ago, the startup raised $4 million in seed funding, an investment that laid the foundation for its platform. Several existing investors who recognised Triple-A’s potential early on also participated in the current Series A round, reaffirming their confidence in the company and team.
“We believe that stablecoins and other digital currencies are transforming cross-border transactions with instant, 24/7 transfers. Triple-A is building a full suite of products for businesses to receive, manage, and transfer funds globally,” said Eric Barbier, Founder and CEO of Triple-A.
Eric is a third-time FinTech founder, having created value in both his prior companies, including Thunes. His expertise lies in identifying key problems and building solutions in growing markets.
“Blockchain-based digital infrastructure provides real value in cross-border payments in terms of speed and liquidity of flows. These infrastructure rails, including stablecoins and centrally backed digital currencies (CBDCs), have the potential to transform how global businesses transact money more efficiently. Licensed by major regulators in Singapore and Europe, Triple-A is building a compliant and steady foundation to enable this future,” Aakash Kapoor, Vice President at Peak XV added.
IBSi Daily News Analysis
December 01, 2023
Charles and Keith
UAE consumers turn to banks for advice on sustainable financeRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage