Overview of Transaction

• On December 17, 2023, Pave Bank emerged out of stealth and announced that it raised ~$5.2 million in seed financing led by 468 Capital with participation from Quona Capital, Daedalus Angels, BR Capital, and others
• Founded in March 2023 and based in Singapore, Pave Bank is building the world’s first programmable bank, offering customers multi-asset business banking products
• Pave will enable customers to expand beyond conventional banking products, enabling fast payments and instant settlement, and allowing them to transact in stablecoins, Central Bank Digital Currencies (CBDCs), and tokenized Real World Assets (RWAs)
• In addition to the capital raise, Pave announced it has received its first digital commercial banking license in the country of Georgia, with plans to continue expanding globally

Significance of Transaction

• Pave will use the new investment to operationalize the bank, expand its sales and tech teams, and accelerate product development
• The transaction will also provide a foundation for Pave to expand its licenses to new markets in 2024

FT Partners' Role

• FT Partners served as the strategic and financial advisor to Pave Bank
• This transaction highlights FT Partners’ deep domain expertise in the banking tech and digital assets spaces, as well as its successful track record generating highly favorable outcomes for innovative FinTech clients globally