Singapore-based digital bank Pave Bank has successfully raised $39 million in a Series A funding round led by venture capital giant Accel, with significant participation from Tether Investments and other notable investors. The fintech startup, founded in 2023 by industry veterans Simon Vans-Colina, Salim Dhanani, and Dmitry Bocharov, specializes in programmable banking solutions that integrate both crypto and fiat services tailored for institutional and corporate clients.
By leveraging programmable banking, Pave Bank enables businesses to automate complex financial operations—including payments, transfers, and treasury management—through APIs and smart contracts built on advanced digital infrastructure. Operating out of Singapore with a Georgian banking license and an office in London, the company is poised for expansion into new markets such as the UAE, Hong Kong, and the European Economic Area to meet rising demand for programmable finance.
This funding round brings Pave Bank’s total capital raise to approximately $45 million, underscoring growing investor confidence in the future of integrated digital and traditional banking services. With increasing regulatory clarity worldwide, Pave Bank is well-positioned to capitalize on the shift toward blockchain-enabled financial ecosystems that major institutions are actively embracing.
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