Pave Bank raises $39M led by Accel, Tether to expand programmable banking

The Singapore-based digital bank plans to broaden its crypto and fiat offerings for institutional clients, citing growing demand for programmable finance.

Fintech Pave Bank has raised $39 million in a Series A funding round led by venture capital firm Accel. The company offers programmable banking solutions for businesses, combining crypto and fiat services.

The round included participation from Tether Investments, Wintermute, Quona Capital, Helios Digital Ventures, Yolo Investments, Kazea Capital, Financial Technology, and GC&H Investments, bringing the company’s total funding to about $45 million, according to the Economic Times.

Founded in 2023 by fintech veterans Simon Vans-Colina, Salim Dhanani, and Dmitry Bocharov, Pave Bank provides institutional and corporate clients with both traditional and programmable banking services, while also facilitating transactions involving digital assets.

Programmable banking services allow businesses to automate financial operations such as payments, transfers, and treasury management through application programming interfaces (APIs) or smart contracts built on digital infrastructure.

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