Singapore based fintech Triple-A raises US$10m series A

• Lead investor is Peak XV Partners (formerly known as Sequoia India & South East Asia)
• To enhance the global payment system by connecting traditional finance with blockchain 

Digital currency payments institution Triple-A has announced its US$10 million (RM47.8 million) Series A funding. 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 (Middle East and North Africa) leading technology investors.

Founded in 2017 by Eric Barbier (pic),  who launched three fintechs in the past, Triple-A claims that it has pioneered digital, stablecoin and blockchain-led payments, enabling global businesses to pay and get paid faster, 24/7, while mitigating currency volatility risk, all while upholding the highest regulatory compliance standards. Elodie Trichet, a veteran payments executive is COO at Triple-A with decades of experience in the payments industry, including leadership positions at global payments company Adyen and fintech startup Airwallex.

The company holds licenses as a Payments Institution from the Monetary Authority of Singapore and the Central Bank of France, allowing it to conduct payment transactions across all EU member states, in addition to being registered with the United States Financial Crimes Enforcement Network. 

Triple-A expresses its commitment to strengthening its regulatory framework on a global scale, while building a more efficient global payment ecosystem by bridging the gap between traditional finance and blockchain-backed payment solutions.

Triple-A said it recently partnered with iStudio, Singapore’s largest Apple products reseller, to enable customers to pay using cryptocurrencies at selected iStudio stores. Merchants like Farfetch, Charles and Keith, Singapore Red Cross, Razer, and Reap have chosen to use Triple-A’s services to accept cryptocurrency as a form of payment, with options including USDT, USDC, ETH, and BTC.

Slightly over a year ago, the startup raised US$4 million (RM19 million) in seed funding, laying the groundwork for its platform. The current Series A round sees several early investors participating as well.

Presently Triple-A boasts a diverse team comprising over 70 employees and maintains a global presence with offices in Singapore, Miami, Hong Kong, Paris, and Barcelona.

Barbier underlines the company’s belief in the transformative potential of stablecoins and digital currencies, noting their impact on cross-border transactions, by enabling instant, round-the-clock transfers. He highlights that Triple-A is developing a full suite of products designed for businesses to receive, manage, and transfer funds globally.

Aakash Kapoor, vice president at Peak XV emphasised the significant value of blockchain-based digital infrastructure in cross-border payments, citing the advantages of speed and liquidity in financial flows. “These infrastructure rails including stablecoins and centrally backed digital currencies have the potential to transform how global businesses transact money more efficiently.” He added that with licensing from major regulators in Singapore and Europe, Triple-A is building a compliant and steady foundation to enable this future.