Pave Bank, a fintech bank backed by Accel, raised over $39 million in funding, bringing its total funding to more than $44 million. The bank reported profitability in seven of its first nine months of operation and serves corporations and institutional clients with a tech-driven operating model.

Pave Bank offers a unified platform for deposit accounts, international payments, treasury management, and more within a single regulatory framework. The bank aims to address operational challenges for institutions managing fiat and digital assets, providing a bridge between traditional finance and digital assets in a regulated environment.

Accel Partner Rachit Parekh highlighted the growing demand for regulated financial infrastructure connecting fiat and digital assets. Quona Capital co-founder Ganesh Rengaswamy praised Pave’s method as combining traditional banking with digital assets to deepen financial inclusion across markets. Pave Bank holds a banking license from the National Bank of Georgia and is expanding globally.

The bank plans to broaden licensing coverage, develop programmable treasury products, and integrate with major financial ecosystems. Pave Bank’s funding round was led by Accel and included participation from various venture capital firms, positioning the bank as a leader in the emerging field of programmable banks for digital assets and AI.

Read more at Yahoo Finance: Pave Bank Secures $39M In Funding Led By Accel For What It Calls The World’s First Programmable Bank For Digital Assets