Triple-A raises $10M Series A from Peak XV and Shorooq Partners to be the most regulated payment institution for digital currency worldwide

SINGAPORE, Oct. 25, 2023 /PRNewswire/ -- Global digital currency payment institution Triple-A announces their US$10 Million Series A funding round today. 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.

About Triple-A
Triple-A, the digital currency payment institution, enables businesses to pay and get paid in both traditional and digital currencies, volatility-free. 

From API to no-code integration, Triple-A's frictionless, white-label payment solutions are designed to blend smoothly into existing business operations — all while upholding the highest standards of security and compliance.

Licensed by the Monetary Authority of Singapore (MAS) and trusted by over 20,000 businesses, Triple-A makes accepting payments in traditional and digital currencies simple for businesses worldwide. Triple-A is also licensed in the EU by Banque de France and is registered with the United States Financial Crimes Enforcement Network (FinCEN).

To learn more, visit http://triple-a.io/.

About Peak XV
Peak XV (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, Southeast Asia and beyond. Peak XV (pronounced Peak Fifteen) was the name used for Mount Everest before it was called that. Over the last 17 years of our operations in the region, Peak XV has grown to manage over USD 9 billion in capital across 13 funds and invested in over 400 companies.

To know more, please visit: www.peakxv.com. 

About Shorooq Partners
Founded in 2017, Shorooq Partners is the leading tech investor across the Middle East, North Africa, and Pakistan (MENAP region). The firm's venture capital and venture debt funds invest in the most innovative seed stage and early-stage startups. The firm has built deep sectoral expertise in Fintech, Platforms, Software, Gaming and Web3.0. Shorooq Partners has backed market leading disruptors including Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo. Since its inception, Shorooq Partners was built on the principle of being founders' partners, company builders and value investors.

Shorooq Partners is headquartered in Abu Dhabi, UAE and has offices across KSA, Bahrain, Egypt, Pakistan, and Korea. Shorooq Partners refers to a group of companies that are affiliates of each other and which operate under this business name, of which Shorooq Partners Ltd (regulated by the ADGM Financial Services Regulatory Authority FSRA Registration) is a member.

For more information, reach out to us at
hello@shorooq.com
www.shorooq.com