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Pave Bank, a digital-first banking platform based in Georgia, has raised US$39 million in a funding round led by Accel, signaling growing investor interest in regulated digital asset
Pave Bank, a digital-first banking platform based in Georgia, has raised US$39 million in a funding round led by Accel, signaling growing investor interest in regulated digital asset banking infrastructure.
The round also saw participation from a global consortium of investors, including Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology, Yolo Investments, Kazea Capital, and GC&H Investments.
This latest round brings Pave Bank’s total funding to approximately US$45 million and strengthens its position as one of the first regulated banks combining fiat services and digital asset management for corporate clients.
🔗 Source: The Economic Times
Founded in 2024 by former BigPay executives, Pave Bank provides corporate clients with banking services that operate seamlessly across traditional (fiat) and regulated digital assets.
The startup’s infrastructure allows clients to:
With a lean team of just over 50 employees, Pave Bank has already turned a profit in seven of its first nine months, showcasing the efficiency of its technology-driven model.
The round’s lead investor, Accel, brings a strong track record in scaling global fintechs such as Monzo, Revolut, and N26.
Notably, participation from Tether Investments and Wintermute adds credibility to Pave Bank’s digital asset ambitions — both firms are major players in the crypto infrastructure and liquidity ecosystem.
Meanwhile, investors like Quona Capital and Helios Digital Ventures reinforce confidence in Pave’s potential to serve emerging market businesses with hybrid treasury and payment needs.
Despite being less than a year old, Pave Bank Georgia Joint Stock Company (JSC) has already achieved early profitability.
According to available disclosures:
The lean setup demonstrates strong cost control and a software-first approach — a rare combination in the capital-intensive banking sector.
With fresh funding, Pave Bank plans to expand into new markets, including:
Each of these markets, however, will require new regulatory approvals. So far, no public timeline has been shared regarding the rollout schedule.
Still, Pave Bank’s early traction and profitability indicate readiness to scale internationally with region-specific compliance frameworks.
Pave Bank refers to its platform as “the first true operating system for money.”
Its programmable banking model enables users to:
This “programmable finance” layer represents a major shift in corporate banking, potentially allowing businesses to integrate real-time financial logic into their daily operations — something legacy banks can’t easily provide.
While Pave Bank promotes its programmable banking capabilities, the public availability of its APIs remains unclear.
Currently:
If Pave follows through on its API-first philosophy, it could enable fintech partners to create:
Such integrations would place Pave Bank in direct competition with Banking-as-a-Service (BaaS) platforms like Solaris, ClearBank, and Unit, while offering deeper functionality around digital asset management.
Georgia has become a quietly emerging fintech hub, offering progressive licensing frameworks for digital-first and blockchain-friendly banks.
Pave Bank’s JSC license from the National Bank of Georgia allows it to:
This regulatory flexibility provides a testing ground for hybrid banking models, which Pave plans to replicate globally with localized compliance structures.
Pave Bank’s latest raise is significant for several reasons:
Pave Bank’s expansion into the UAE, US, Hong Kong, and the EEA will test its regulatory adaptability and technical scalability.
Success will depend on:
If executed well, Pave could position itself as the global reference model for regulated digital-first banks that blend traditional finance stability with crypto-era programmability.
Accel’s $39 million investment in Pave Bank underscores how the next generation of banks will likely merge regulatory clarity, technological programmability, and cross-asset flexibility.
By proving that a small, tech-led team can achieve profitability within a year while navigating regulatory complexity, Pave Bank is setting a new benchmark for fintech efficiency.
Its next challenge: to expand globally, turn programmable banking into a mainstream reality, and build the open financial operating system it promises to be.
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