Accel Leads USD 39 Mn Funding in Pave Bank to Power Global Growth The latest round also saw participation from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments.
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Pave Bank, a programmable commercial bank with a Singapore-based holding company, has secured USD 39 million in funding led by global venture capital firm Accel.
The latest investment round also saw participation from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments.
With this round, Pave Bank's total funding has crossed USD 44 million.
The company said the fresh capital will help it expand its regulatory reach, strengthen its banking infrastructure, and accelerate product development. It also aims to scale its client coverage and deepen its presence across global markets.
Founded in 2024 by former BigPay executives Simon Vans Colina, Salim Dhanani, and Dmitry Bocharov, Pave Bank provides corporate and institutional clients with a full suite of banking services, including deposits, payments, foreign exchange, and treasury management.
The platform also supports regulated digital asset transactions, enabling businesses to manage both fiat and digital assets in real time, automate treasury operations, and reduce dependency on intermediaries.
Licensed by the National Bank of Georgia, Pave Bank operates a representative office in London and plans to expand into the United Arab Emirates, Hong Kong, and the European Economic Area.
The company said it will focus on enhancing its programmable treasury and institutional financial products while integrating with major financial and digital asset ecosystems.
The company had earlier raised USD 5.2 million in a seed round in 2023.
Accel, which led the funding round, is an early-stage backer of Flipkart and Swiggy and had closed its eighth India-focused fund earlier this year after raising USD 650 million from investors.
