Crypto Payments Platform Triple-A Announces $10 Million In Funding

• Crypto payments company Triple-A announced a $10 million Series A funding round.
• The funding round was led by Peak XV and Shorooq Partner, as noted by TechCrunch.
• The amount will go towards the company’s expansion into the Middle East, North America, and South America.

According to a recent article by TechCrunch published on October 25, global digital currency payments institution Triple-A has announced that it has secured a Series A funding round of $10 million. The investment was led by previous investors Peak XV (formerly known as Sequoia India and Southeast Asia) and was supported by Shorooq Partners, a venture firm with a focus on the MENA region.

This development follows Triple-A’s previous $4 million funding in June 2022. The round was led by zVentures, the corporate ventures arm of Razer, a renowned global lifestyle brand catering to gamers. Around the same time, Triple-A disclosed it was the first Crypto Payments Company to obtain a Digital Payment Token license from the Monetary Authority of Singapore (MAS), allowing the company to offer comprehensive cryptocurrency payment services to businesses while adhering to global regulatory standards.

The report also highlighted that Triple-A’s new funding will support the company’s expansion into the Middle East, North America, and South America, along with the development of new crypto solutions for its payment and payout products. Founder Eric Barbier said the idea for Tripe-A was inspired by:

I wanted to provide businesses with an additional, more efficient payment method. Cryptocurrency payments not only shield businesses from chargeback fraud risks but also help to streamline B2B cross-border payments. With instant settlements and no middlemen required, I realized we could solve many pressing issues in the payments industry today.

At the moment, Triple-A supports cryptocurrencies including Bitcoin, Lightning, Ether, Tether, and USD Coin. Barbier emphasized that stablecoins “are a major game-changer in payments” by facilitating real-time settlements, a sharp contrast to conventional methods such as SWIFT transfers, which typically require several days to clear.

After a long funding winter, the crypto sector is once again observing an overwhelming number of funding rounds, as shared by Ryan Selkis, the founder of popular data analytics firm Messari.

Coin Edition recently reported that in 2023, more than 30 investors have orchestrated a minimum of ten rounds of funding for crypto projects. Coinbase Ventures participated in over 324 funding rounds for approximately 290 entities, with “Seed” funding being their primary type. Meanwhile, the crypto gaming company, Animoca Brands was involved in 271 funding rounds with an average commitment of $5.5 million.