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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.

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