Triple-A raises $10M Series A from Peak XV and Shorooq Partners

PRNewswireOctober 25, 20236 min

Global digital currency payment institution¬†Triple-A¬†announces their¬†US$10 Million Series A funding round. 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 MENA’s 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. The company also holds a Payment Institution Licence from the central bank of France, allowing them to execute payment transactions across all EU member states. Triple-A is also registered with the United States Financial Crimes Enforcement Network (FinCEN). 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 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.

Triple-A has also seen growing demand from enterprise clients seeking trustworthy and licensed digital currency payment solutions for purchases and cross-border business to business flows.

A little 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.

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.

“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 immense value in both his prior companies including Thunes. His expertise lies in identifying key problems and building solutions in growing markets. Eric has spent over 15 years specialising in Fintech and in cross-border payments. Eric also serves on several boards of Fintech startups.

Joining Eric in the mission is veteran payments executive Elodie Trichet as COO at Triple-A. Elodie has decades of experience in payments, including executive roles at global payments company Adyen and fintech start-up Airwallex.

“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.

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