Pave Bank’s Fundraising Milestone

Pave Bank, a digital lender based in Georgia, recently completed a funding round raising $39 million. This round was led by Accel and included investments from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology, Yolo Investments, Kazea Capital, and GC&H Investments.

This fundraising brings the total capital raised to approximately $45 million for Pave Bank.

Expansion Plans and Product Optimizations

Pave Bank was established in 2024 with a focus on offering banking services that cater to both fiat currencies and regulated digital assets for corporate clients. The bank plans to use the newly acquired capital to broaden its international presence, aiming to enter markets such as the UAE and the US, followed by expansions into EEA and Hong Kong.

The bank currently operates under a digital bank license issued by the National Bank of Georgia. Although specific details about any restrictions are not publicly available, Pave Bank has reported profitability in seven out of nine months since entering its real operational environment with phased limitations. The company employs over 50 employees and has demonstrated a successful tech-driven approach to cost-cutting while generating revenue from both fiat and digital asset platforms.

Building Partnerships Through API Integration

Pave Bank envisions itself as a platform where SaaS companies can leverage its infrastructure to develop treasury management tools. The bank is committed to an API-first strategy, aligning with the goal of enabling programmable banking that allows users to upload code for automated asset management.

This approach implies that Pave Bank will offer developer-friendly APIs, facilitating the creation of ERP connectors, automated treasury reconciliation tools, and compliance dashboards for firms managing both traditional and digital assets on a unified platform.