Private Equity

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Accel India leads $39-M round for blockchain-based digital platform Pave Bank

Economic Times   Pave Bank   Pave Bank  

Accel India has led a USD 39 million (nearly INR 343 crore) investment in Singapore- and Tbilisi, Georgia-based Pave Bank , which allows businesses to manage both fiat and digital assets such as cryptocurrencies, stablecoins, and other blockchain-based instruments on a single digital platform. (Rachit Parekh, a Bangalore-based partner at Accel India, is representing the firm on the investment.)The round also saw participation from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology, Yolo Investments, Kazea Capital, and GC&H Investments. This brings the bank’s total funding to about USD 45 million.Founded in 2024 by Salim Dhanani, Simon Vans Colina and Dmitry Bocharov, Pave Bank provides corporate and institutional clients with banking services such as deposits, payments, foreign exchange, and treasury management, while also supporting transactions involving regulated digital assets. The fresh capital will be used to expand the bank’s footprint, accelerate product development, and strengthen its banking infrastructure.