Triple-A gets funding from Peak XV to help more businesses use crypto | TechCrunch
techcrunch.com
Created by the founder of Thunes, global digital currency payments institution Triple-A wants to close the gap between traditional finance and Created by the founder of Thunes, global digital currency payments startup Triple-A wants to close the gap between traditional finance and blockchain-based payments with its white-label solutions for businesses. It enables clients to pay in crypto or accept it and get fiat money in their bank accounts the next day.
  • AutoTL;DR@lemmings.worldBEnglish
    1·
    8 months ago

    This is the best summary I could come up with:

    Triple-A announced today it has raised a $10 million Series A from returning investors Peak XV (former Sequoia India and Southeast Asia) with strategic backing from MENA-focused venture firm Shorooq Partners, alongside undisclosed repeat backers.

    Triple-A was founded by Eric Barbier, a serial fintech founder whose previous startup was cross-border payments platform Thunes, now valued at more than $900 million.

    The idea for Triple-A came while Barbier worked at Thunes with clients facing chargeback fraud issues, leading him to see the potential of cryptocurrencies as a payment solution for businesses selling goods and services across borders.

    Triple-A is currently used by more than 20,000 businesses, including merchants like iStudio, Farfetch, Charles and Keith, Singapore Red Cross, Razer and Reap, along with large enterprises.

    In a statement about the investment, Peak XV vice president Aakash Kapoor said, “Blockchain-based digital infrastructure provides real value in cross-border payments in terms of speed and liquidity of flows.

    These infrastructure rails including stablecoins and centrally backed digital currencies (CBDCs) have the potential to transform how global businesses transact money more efficiently.

    The original article contains 878 words, the summary contains 176 words. Saved 80%. I’m a bot and I’m open source!

  • TQuid@beehaw.orgEnglish
    1·
    8 months ago

    So curing chargeback fraud by helping businesses get in on fraud more easily. Got it.