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PPRO raises USD 180 million to invest in local payments infrastructure

Tuesday 19 January 2021 14:00 CET | News

UK-based local payments infrastructure provider PPRO has announced over USD 180 million in new investment. 

 

Investors include Eurazeo Growth , Sprints Capital , and Wellington Management . This news comes just six months after the company raised USD 50 million from Sprints Capital as well as Citi Ventures and HPE Growth. PPRO’s valuation is now over US USD 1 billion. PPRO provides infrastructure in the cross-border payments space, powering international growth for payment service providers and platforms such as Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, and Worldpay.

According to the company press release, PPRO 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. The funding will fuel PPRO’s continued global expansion and support the development of its cross-border payment technology and services.

PPRO’s technology allows payment services providers and enterprises with payment platforms to plug in via simple APIs and offload the intricate complexities and massive costs of providing payment method choice to local consumers. The company’s singular focus on local payment methods helps its customers rapidly speed up time to market and reduce operational costs.


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Keywords: PPRO, funding round, investment, UK, Europe, global, payments infrastructure, Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, WorldPay, local payments infrastructure, cross-border payments
Categories: Payments & Commerce | Online Payments
Countries: World
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Payments & Commerce






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