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January 19, 2021Blog Posts

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

Business Wire

PPRO, the global provider of local payments infrastructure, today announced over US $180 million in new investment. Investors include Eurazeo GrowthSprints 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.”

Source

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