Singapore’s Triple-A, a crypto payment gateway, has successfully concluded a Series A funding round of $10 million. Leading this funding round were Peak XV Partners and Shorooq Partners, both of whom had previously invested in Triple-A. This fresh capital injection will empower Triple-A in its mission to enhance and expand its product offerings.
Triple-A’s Series A announcement comes with growth from its previous $4 million seed funding round just one year ago. In total, the company has now raised $14 million.
Established in 2017 by fintech visionary Eric Barbier, Triple-A facilitates secure and efficient transactions through stablecoins and blockchain technology/ It offers support for prominent tokens like USDT, USDC, Bitcoin, and Ethereum. The company’s mission is to streamline global payments, enabling businesses to conduct transactions easily and quickly, minimizing the impact of currency market fluctuations.
The infusion of capital from the recent Series A funding round is expected to fuel Triple-A’s expansion into new markets, with a particular focus on regions like the Middle East, North America, and South America. The company aims to enhance global payment efficiency and accessibility with plans to diversify its cryptocurrency solutions.
The company holds licenses from the Monetary Authority of Singapore and the Central Bank of France, supporting them to execute payment transactions in various jurisdictions, including the EU member states. Triple-A is registered with the United States Financial Crimes Enforcement Network (FinCEN).
“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.
The company reports its service to over 20,000 businesses and organizations, ranging from global names like Farfetch, Charles & Keith, Razer, and the Singapore Red Cross.
Triple-A recently sealed a partnership with iStudio, a major Apple product reseller in Singapore, enabling crypto payments at selected iStudio stores. With a team of over 70 dedicated professionals and offices in key global cities like Singapore, Miami, Hong Kong, Paris, and Barcelona, Triple-A stands as a key player in crypto payment gateways.
Peak XV, formerly Sequoia Capital India & SEA, has firmly established itself as a prominent venture capital firm with a footprint extending across India, Southeast Asia, and more. Leveraging its extensive expertise, Peak XV has actively managed an impressive portfolio of over USD 9 billion in capital, spanning 13 funds and a remarkable tally of over 400 investments.
“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,” Aakash Kapoor, Vice President at Peak XV, stated.
Similarly, Shorooq Partners, founded in 2017, has become a premier technology investor in the Middle East, North Africa, and Pakistan (MENAP region). With a strategic focus on seed-stage and early-stage startups, Shorooq Partners is dedicated to nurturing and backing the most innovative ventures across various sectors, such as Fintech, Platforms, Software, Gaming, and Web 3.0.