Triple-A, the global digital currency payments institution, has secured $10 million in a Series A funding round led by Peak XV, with participation from Shorooq Partners and other undisclosed investors. The funding will be used to accelerate Triple-A’s expansion into the Middle East, North America, and South America, as well as to enhance its cryptocurrency solutions for businesses.
Key Takeaway
Triple-A, the digital currency payments institution, has raised
0 million in a Series A funding round led by Peak XV. The funding will be used to expand Triple-A’s presence in the Middle East, North America, and South America, as well as to enhance its cryptocurrency solutions for businesses. Triple-A aims to bridge the gap between traditional finance and blockchain-based payments, enabling businesses to accept cryptocurrencies and receive fiat money quickly and securely.
Enhancing Cross-Border Payments with Crypto
Triple-A, founded by fintech entrepreneur Eric Barbier, aims to bridge the gap between traditional finance and blockchain-based payments. With its white-label solutions, Triple-A enables businesses to accept cryptocurrencies and receive fiat money in their bank accounts within the next day. This provides businesses with an efficient payment method while mitigating the risks of chargeback fraud.
Expanding Product Offerings and Geographic Reach
The latest funding round comes a year after Triple-A’s seed round, bringing its total funding to $14 million. With the additional capital, Triple-A plans to expand its product offerings by introducing new cryptocurrency solutions to its payments and payout products. Furthermore, the company aims to establish a stronger presence in key markets, including the Middle East, North America, and South America. Currently headquartered in Singapore, Triple-A has offices in Miami, Hong Kong, Paris, and Barcelona.
The Vision Behind Triple-A
Eric Barbier, the founder of Triple-A, was inspired to create the company during his previous work at Thunes, where he witnessed the challenges faced by clients dealing with chargeback fraud. Recognizing the potential of cryptocurrencies to streamline cross-border payments, Barbier set out to provide businesses with a more efficient payment method that also shields them from fraud risks. Triple-A currently supports cryptocurrencies such as Bitcoin, Ether, and stablecoins, which offer real-time settlements and eliminate the need for intermediaries.
Targeting Compliance-Conscious Enterprises
Triple-A primarily caters to enterprises that prioritize regulatory compliance and licensing. By offering a white-label solution, Triple-A allows businesses to accept cryptocurrency payments without having to navigate the complexities of handling crypto transactions on their own. The company holds licenses from major financial authorities, including the Monetary Authority of Singapore and the central bank of France, ensuring its compliance with regulatory standards.
