Triple-A Raises $10 Million to Merge Traditional and Blockchain-Based Payments

Published 8 months ago

Global digital currency payments institution Triple-A has secured a US$10 million Series A funding. The round was led by returning investor Peak XV Partners and included strategic investment from Shorooq Partners.

Bridging the Gap Between Traditional and Digital Payments

Established in 2017 by serial fintech entrepreneur Eric Barbier, Triple-A’s mission is to create an efficient global payment ecosystem. It does this by merging traditional finance with blockchain-backed payments. Triple-A facilitates businesses to make and receive payments in both traditional and digital currencies, providing a volatility-free experience.

The company holds a Payments Institution licence from the Monetary Authority of Singapore (MAS) and the Central Bank of France. This allows Triple-A to carry out payment transactions across all European Union member states. In addition, it is registered with the United States Financial Crimes Enforcement Network (FinCEN). Triple-A plans to reinforce its regulatory framework in countries worldwide.

Partnerships and Growth

Recently, Triple-A partnered with iStudio, Singapore’s biggest Apple products reseller. This partnership allows customers to make purchases using cryptocurrencies at selected iStudio stores. Other merchants such as Farfetch, Charles and Keith, Singapore Red Cross, Razer, and Reap employ Triple-A’s services to accept cryptocurrency payments. The dominant currencies include USDT, USDC, ETH, and BTC.

Just over a year ago, the startup raised US$4 million in seed funding. Now, with more than 70 employees, Triple-A has offices in Singapore, Miami, Hong Kong, Paris, and Barcelona, maintaining a significant global presence.

About Shorooq Partners

Shorooq Partners, one of the strategic investors in this round, is an early-stage tech investor operating in the Middle East, North Africa, and Pakistan (MENAP region). The firm has developed deep sectoral expertise in fintech, platforms, software, gaming, and Web3.