Singapore-based investor Temasek and US-based firm MissionOG are the two investors in this latest tranche of funding, which is coming in the form of an extension of a USD 300 million investment that GPS announced back in October 2021, closing out the full round at USD 400 million. Advent International and Viking Global Investors co-led that previous round, which gave them a controlling stake in GPS. Other investors in the company include Visa. As with the earlier part of the round, GPS — which is based in London, England — is not disclosing its valuation today.
The funding will be used to continue growing GPS’s business — which includes a range of fintech services such as payments, direct debits and standing orders, virtual cards, mobile wallets, fraud prevention, expense management, cryptocurrency management, BNPL ,and more (these are sold under the GPS Apex brand).
Specifically, the company wants to expand further in Europe and Asia Pacific, as well as in more emerging markets across the Middle East and Africa; and it wants to bring on new products.
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