Shorooq Partners Invests in Singapore Fintech Triple-A
Singapore-based fintech Triple-A facilitates cryptocurrency payments between merchants and customers.
Shorooq Partners, along with India and South East Asian VC Peak XV Partners, led a $10 mn Series A funding round for Singapore’s digital currency fintech Triple-A, reports IBS Intelligence. Founded in 2017 by fintech entrepreneur Eric Barbier, Triple-A is a digital currency payment startup that aims to bridge the gap between traditional finance and blockchain-backed payments by facilitating payments between merchants and buyers in traditional and digital currencies.
Triple-A facilitates payment in cryptocurrency at select Singapore Apple products reseller iStudio stores as well as with merchants like luxury e-commerce company Farfetch and Singapore’s private jet operator Logic Jets, among others. In August, it partnered up with Singapore Red Cross, to facilitate donations in cryptocurrencies.
Triple-A has a license from the Central Bank of France that allows it to make payment transactions across EU member states and is registered with the United States Financial Crimes Enforcement Network (FinCEN). Last year, Triple-A raised $4 mn in seed funding.
Shorooq Partners, which is headquartered in Abu Dhabi and invests across the Middle East, North Africa and Pakistan (MENAP), has previously invested in UAE’s Pure Harvest Smart Farms, Nym Card, Saudi creative blockchain solutions startup Nuqtah, fintech Lean, and the UAE’s 3-D printing startup Immensa, among others.