PPRO, a London-based payments infrastructure provider, announced over US$ 180 million in new investment which pushed its valuation to over US$ 1 billion.
Investors include Eurazeo Growth, Sprints Capital, and Wellington Management. This news comes just six months after the company raised US$ 50 million from Sprints Capital as well as Citi Ventures and HPE Growth.
The funding will fuel PPRO’s continued global expansion and support the development of its borderless payment technology and services.
Financial Technology Partners acted as exclusive financial advisor and Noerr as legal advisor to PPRO in the transaction.
PPRO’s valuation is underscored by its rapid growth last year as the company reported that it had doubled its year on-year transaction volumes in the fourth quarter of 2020, expanded its global team by 60% in the last twelve months, and developed new strategic partnerships with local payment methods in high-growth markets like Indonesia and Singapore.
Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, and Worldpay are among PPRO’s clients.
Simon Black, CEO of PPRO said,
“Beyond securing the support of such prestigious investors and achieving a milestone valuation, we’ve enabled our customers to grow at record numbers during what has been a tough time for many. By giving businesses the ability to offer payment choice, we’ve helped give people around the world better access to goods and services that improve their lives.
Our unique local payments infrastructure empowers our customers to quickly increase their global footprint. This investment will help us deliver the highest performance possible for companies leading the global payments industry”.
Featured image: PPRO Team
