Priya PatelTLDR:
- PPRO closes a €85 million dual tranche funding round to expand its market presence and payment solutions portfolio.
- New capital provided by investors including Eurazeo, HPE Growth, Sprints, PayPal Ventures, JP Morgan, Citi Ventures, and BlackRock.
UK-based paytech PPRO has successfully closed an €85 million dual tranche funding round to support its growth and expansion plans. The funding, provided by a mix of new and existing investors, including major names like Eurazeo, HPE Growth, PayPal Ventures, and JP Morgan, will enable PPRO to enhance its global network of local payment methods and target key markets. This capital raise follows the company’s previous $270 million funding in 2021, which also led to its valuation surpassing $1 billion. PPRO, founded in 2006 and headquartered in London, offers digital payments infrastructure for banks and businesses to scale their checkout and acquiring services. The company has been actively expanding its market presence through partnerships and integrations, such as with GrabPay, UnionPay International, and Toss Pay in the Asia Pacific region. In 2023, the company saw leadership changes with CEO Simon Black stepping down and former CCO Motie Bring taking the helm. PPRO’s CFO Rahul Raswant highlights the company’s focus on helping customers access new markets through the provision of local payment methods, indicating a strategic direction towards further growth and market expansion.
Tags:
- Business-to-Business/B2B
- Financial Services/Finserv
- Investment & Funding
- Payments
