Pave Bank Raises $39 Million Series A for Programmable Banking
Background: Pave Bank’s Growth and Funding
Pave Bank, a Singapore-based fintech startup, has secured $39 million in a Series A funding round led by venture capital firm Accel. The company, founded in 2023 by Simon Vans-Colina, Salim Dhanani, and Dmitry Bocharov, specializes in programmable banking solutions that integrate both cryptocurrency and traditional fiat services for business clients.
According to reporting from Cointelegraph, participation in the round also included Tether Investments, Wintermute, Quona Capital, Helios Digital Ventures, Yolo Investments, Kazea Capital, Financial Technology, and GC&H Investments. The latest capital infusion brings Pave Bank’s total funds raised to approximately $45 million.
Programmable Banking and Digital Asset Services
Pave Bank aims to innovate business banking by providing programmable solutions. Its banking platform enables institutional and corporate clients to automate financial processes such as payments, transfers, and treasury management using application programming interfaces (APIs) and smart contracts built on digital infrastructure. These tools facilitate seamless integration of both crypto and fiat transactions, offering increased flexibility and efficiency for businesses.
The startup currently operates with a Georgian banking license, is headquartered in Singapore, and has an office in London. Pave Bank also plans to expand its operations into new markets such as the United Arab Emirates, Hong Kong, and countries within the European Economic Area. This move is timed as major financial institutions are increasing support for blockchain-based settlement platforms amid clearer regulatory frameworks in the United States and Europe.
Market Reaction and Comparable Funding Rounds
Recent months have seen continued investment in blockchain and cryptocurrency-related payment platforms. In September, blockchain payments firm Fnality secured $136 million in a Series C round led by Bank of America, Citi, Temasek, KBC Group, WisdomTree, and Tradeweb, with returning investors including Santander, Barclays, UBS, and Goldman Sachs. On October 9, London-based BVNK, which provides stablecoin infrastructure, announced an investment from Citi Ventures, valuing the company at over $750 million.
These significant rounds indicate ongoing momentum and confidence among institutional investors as the sector matures and regulatory clarity improves in global markets.
What’s Next for Pave Bank
Pave Bank intends to use the Series A proceeds to scale its programmable banking offerings and extend geographic reach. The company is focused on building more automated financial operation features for its banking platform while supporting a broadened range of traditional and digital asset transactions. Expansion efforts target high-growth digital asset markets in the UAE, Hong Kong, and Europe.
The rising demand for programmable banking and adoption of integrated crypto-fiat solutions are key drivers shaping the fintech landscape. Industry observers point to increasing institutional engagement as a catalyst for the rapid evolution of banking and payment infrastructure worldwide.
For more in-depth coverage of digital banking innovation, visit Vizi’s cryptocurrency section.
