Business Wire

PPRO Raises $180 Million for the Next Era of Local Payments Infrastructure, Is Now Valued Over $1 Billion

Share

PPRO, the global provider of local payments infrastructure, today announced over US $180 million in new investment. 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. PPRO’s valuation is now over US $1 billion.

PPRO has established itself as the most trusted infrastructure provider 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. PPRO’s local payments platform and expert services help its customers get the industry’s best conversion rates in markets around the world by allowing online shoppers to pay with their preferred payment method.

PPRO’s valuation is underscored by its rapid growth last year. The company 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 innovative border-free payment technology and services.

“I am very proud of what the PPRO team has accomplished,” said Simon Black, CEO of PPRO. “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,” continued Black.

As e-commerce continues to grow at an unprecedented pace, businesses are being pressed to offer seamless checkout experiences and locally preferred payment options. 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 up to 10 times.

“We are delighted to support Simon and the team at PPRO as they continue to develop best-in-class local payment solutions,” commented Nathalie Kornhoff-Brüls, Managing Director at Eurazeo Growth. “All signs for the future indicate that digital commerce, and even more so cross-border commerce, will continue to grow exponentially while innovation in payment methods remains strong. As a result, facilitating local payments is becoming increasingly complex. Payment service providers, however, no longer have a choice as merchants and their customers are pushing for the adoption.”

“PPRO has proven to be the go-to problem solver in this area, providing the local payments technology and expertise that the world’s biggest payment players rely on. Our investment reflects our confidence in the growth potential for PPRO and we’re excited to support PPRO and its team on their journey,” added Voria Fattahi, Partner at Sprints Capital.

Financial Technology Partners acted as exclusive financial advisor and Noerr as legal advisor to PPRO in the transaction.

About PPRO:

PPRO is the top global provider of local payments infrastructure, powering growth for payment service providers and enterprises with payment platforms.

Companies at the forefront of payments technology leverage PPRO’s unified platform, expert services, and local payment methods to boost sales in over 100 e-commerce markets worldwide. In 2020 alone, PPRO processed over $11 billion for its customers, including companies such as Citi, Mollie, PayPal, Worldpay, and many others.

With strategic local payments partnerships and a talented team of over 300 people in every corner of the world, it is the industry’s trusted provider of local payments infrastructure.

PPRO is regulated in the UK by the FCA and in Luxembourg by the CSSF. www.ppro.com

Contact information

Matthew Kaiserman
matthew@mediafrenzyglobal.com
678.943.7408

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Samsung Electronics, Mastercard and Samsung Card Sign MoU for Fingerprint Biometric Payment Card4.3.2021 10:13:00 CETPress release

Samsung Electronics’ System LSI Business, Mastercard, Samsung Card, have signed a memorandum of understanding to develop a biometric card that features a built-in fingerprint scanner to authorize transactions securely at in-store payment terminals. Through this strategic collaboration, the companies aim to provide faster and more secure payment experiences. The biometric authentication capability allows safer interactions with reduced physical contact points by eliminating the need to enter a PIN on a keypad. It also adds an extra layer of security to currently available credit cards by verifying the cardholder’s identity via a unique fingerprint. The biometric cards will adopt a new security chipset from Samsung’s System LSI Business that integrates several key discrete chips, streamlining the overall component design and enabling more efficient development. These cards can be used at any Mastercard chip terminal or point of sale (POS) terminal. “Drawing from our strong security solut

VicTrack transforms rail and government infrastructure with ADVA FSP 30004.3.2021 09:00:00 CETPress release

ADVA (FSE: ADV) today announced that VicTrack is building its new Transport and Government Secure Network (TGSN) on the ADVA FSP 3000. The infrastructure enables railway operators to harness next-generation signaling technologies and provides high-speed connectivity for government agencies. Carrying services at speeds up to 100Gbit/s throughout the Australian state of Victoria, the flexible and fully redundant ROADM network also empowers VicTrack to offer highly reliable and cost-efficient wholesale services at 10Gbit/s and 100Gbit/s. What’s more, the FSP 3000 creates a modular network architecture, which is scalable and ready to support future transport innovation. ADVA’s team is also providing a comprehensive range of professional services from network design to ongoing training and support. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005026/en/ ADVA’s open networking technology is helping VicTrack deliver mission

IDEMIA to Participate in the UK Government’s Digital Identity Pilot4.3.2021 09:00:00 CETPress release

Pursuant to UK government standards, DCS will provide a powerful new way to help verify UK passport holders’ identity, underpinned by security and user experience. It will help prevent fraud, speed up checks and allow people to prove their identity for both face-to-face and online transactions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005360/en/ (Photo: Business Wire) The DCS was previously only available for use in government transactions, however can now be used by pilot-participating private sector firms to check passport information provided by UK citizens against government held data. With citizen consent, service providers will use IDEMIA’s IDway solution to instantly check people’s passport details match the UK government’s passport office database. The DCS will then respond yes or no to confirm whether or not the passport details are valid. People’s private data are protected at all times. Matt Warman,UK

Flagship Report From Arthur D. Little Urges Telcos to Accelerate Growth by Embracing New Services and Reconfiguring Network Assets4.3.2021 09:00:00 CETPress release

Arthur D. Little (ADL) today released a major telecoms report that identifies key strategies to unlock the value of network assets, diversify product offerings, and succeed in a 5G world. Entitled “Time to accelerate growth” and based on a global survey of over 100 C-level executives, it looks at the ways in which telcos can meet the challenge of soaring data-traffic demands while moving beyond traditional connectivity and legacy services. The report identifies three main areas that telcos should concentrate on going forward: Maximizing 5G’s potential. To further enhance customer experience for B2C, telcos and media companies need to form alliances and use 5G as a means to create new and compelling products for consumers – for example, premium bundles that combine content, experience and devices in novel and exciting ways. To provide solutions to B2B customers beyond connectivity, mobile private networks (MPNs) and network slicing offer key opportunities for 5G monetization. To capture

Galderma Continues Global Growth Ambition With Sculptra ® (injectable poly-L-lactic Acid) Re-launch in Europe4.3.2021 08:57:00 CETPress release

Galderma today announced a European re-launch of Sculptra® (injectable poly-L-lactic acid) - a collagen stimulator - with an updated administration protocol. This means that the product is ready for use more quickly following reconstitution, with increased levels of comfort for patients. Sculptra® can now be used immediately following a two-minute reconstitution and with the optional addition of lidocaine for patient comfort. Previously, healthcare professionals had to wait two hours following reconstitution to administer the product. Sculptra® now has the fastest reconstitution protocol of any injectable poly-L-lactic acid (PLLA) available in Europe, representing a significant growth opportunity for Galderma. “Sculptra® has been my go-to tool for treating skin laxity resulting from aging and collagen loss in my patients’ skin, helping restore a youthful appearance,” said Dr. Christoph Martschin, Dermatologist, Akademikliniken, Department of Dermatology, Stockholm, and a featured speak

Exscientia Completes $100 million Series C Financing Round With BlackRock Funds4.3.2021 08:00:00 CETPress release

Exscientia, a clinical stage pharmatech pioneering the use of artificial intelligence (AI) to design new drugs, today announced that funds managed by BlackRock joined the Company’s Series C investment round. Including existing Series C investors, Novo Holdings, Evotec, Bristol Myers Squibb, and GT Healthcare Capital, the round totalled $100 million in funding. This new capital will be used to support Exscientia’s platform development towards autonomous drug design. In addition, the company will extend its proprietary pipeline into clinical trials and expand existing capabilities in biological analytics that support target selection and portfolio development. With the company’s end-to-end AI-first drug discovery platform, CentaurAI™, Exscientia has been able to generate novel drugs and overcome conventional drug discovery limitations several years faster than industry benchmarks. Exscientia has demonstrated the platform’s capabilities by creating the first fully AI-designed drug to ente

OpenGate Capital Portfolio Company, SMAC, Completes Sale of AXTER4.3.2021 08:00:00 CETPress release

OpenGate Capital, a global private equity firm, announced today that its portfolio company, SMAC, has completed the sale of its subsidiary, AXTER, which is focused on the production of waterproofing membranes, to IKO, a leader in global roofing and related products based in Canada. Terms of the agreement were not disclosed. SMAC, a global manufacturer of waterproofing and building envelope solutions headquartered in France, is representative of OpenGate’s strong record of acquiring complex, industrial, and specifically building and construction related businesses across North America and Europe. Andrew Nikou, OpenGate’s Founder and CEO, stated, “With the successful completion of this transaction, SMAC will be able to sharpen its focus on its core operations and customer solutions. Our team at OpenGate will continue to support management of SMAC as they further execute on its business strategy and unlock future growth opportunities.” The sale of AXTER, initially announced on October 5,