Triple-A Raises $10 Mln in Series A Funding

Triple-A, a crypto payment provider, has raised $10 million in a Series A funding round led by Peak XV (formerly known as Sequoia India and Southeast Asia) and Shorooq Partners.

The latest investments come just a year after Triple-A raised $4 million from Razer’s venture arm, zVentures. The Singapore-based firm has also received funding from undisclosed existing investors, bringing its total raised volume to $14 million in just a year.

Triple-A plans to utilize the proceeds to expand its offerings in the Middle East, North America, and South America and also list new tokens.

Presently, the firm has over 70 employees, with offices in Miami, Hong Kong, Paris, and Barcelona. TechCrunch reported the news and added that Triple-A looks forward to expanding its business in more locations following the funding round.

Triple-A, founded in 2017 by Eric Barbier, provides cryptocurrency payment services to various industries, including e-commerce merchants, retailers, game providers, and marketplaces.

The company aims to promote the adoption of cryptocurrencies. Before Triple-A, Barbier founded Thunes, a cross-border payments platform valued at $900 million. Triple-A’s recent funding comes after it published a research report that revealed the increasing popularity of cryptocurrencies worldwide.

According to the report, there are now over 420 million crypto investors as of June 2023.

As reported by Crypto.news, India has the highest number of crypto adopters, with 103 million individuals, accounting for 7.10% of its population, based on Triple-A’s data. China follows with 58 million investors, representing 4.08% of the population, and the United States has nearly 45 million investors, accounting for 13.22% of its population.