Pave Bank, a digital-first neobank integrating traditional banking with digital asset infrastructure, has secured $39 million in Series A funding. The round was led by Accel, with participation from Tether Investments, Wintermute, and Quona Capital, among others.
According to Forbes, the fresh capital will be used to expand Pave’s banking services for digital asset companies across multiple regions, including Europe, the Middle East, and Asia.
“We built Pave at a time when the world became more comfortable with digital financial products. The rise of generative AI helped us scale and refine our banking model,” said Salim Dhanani, co-founder and CEO of Pave Bank.
A Full-Service Bridge Between Fiat and Crypto
Founded in late 2023, Pave Bank positions itself as a regulated, full-service hub for businesses managing both fiat and digital currencies. The platform supports over 25 fiat currencies and stablecoins, allowing clients to seamlessly move between them.
The neobank operates under a banking license in Georgia, which has become a growing fintech hub in Europe, and maintains a presence in London. The company is now pursuing additional licenses in other jurisdictions to scale globally.
Backed by Leading Investors
Accel partner Rachit Parekh emphasized Pave’s role in connecting traditional banking with the digital economy:
“As digital assets become integral to global finance, the need for a well-regulated, full-reserve banking approach at the intersection of fiat and crypto grows stronger. Pave is at the forefront of this transformation.”
Meanwhile, Ganesh Rengaswamy, co-founder of Quona Capital, noted the project’s potential to drive financial inclusion and stablecoin adoption across emerging markets.
Rapid Growth and Profitability
Dhanani shared that Pave’s revenue has grown eightfold in 2025, and the company has been profitable in seven of the past nine months — a rare achievement among neobanks.
“Digital assets have gone mainstream,” Dhanani said. “A larger portion of the financial industry is now embracing blockchain as the foundation for the next generation of financial services.”
Competition and Market Context
Pave Bank aims to provide a regulated, compliant infrastructure for businesses handling fiat and digital assets simultaneously. Its competitors include Revolut, which is expanding its corporate banking solutions with stablecoin support, and JPMorgan, which recently launched its Kinexys platform for digital assets.
The new funding will help Pave strengthen its infrastructure, scale its operations, and attract institutional clients seeking a secure, regulated entry point into the digital asset economy.
Background
In December 2023, Pave Bank raised $5.2 million in seed funding from 468 Capital, Quona Capital, FT Partners, BR Capital, w3.fund, Daedalus, and others. The latest Series A marks a significant milestone in the company’s journey toward redefining the intersection of traditional and digital finance.
