Payments infrastructure provider PPRO has raised $180 million, pushing the firm into Unicorn territory.
Investors include Eurazeo Growth, Sprints Capital, and Wellington Management. The latest round comes just six months after the company raised $50 million from Sprints Capital as well as Citi Ventures and HPE Growth.
The company provides cross-border payments processing and currency conversions for online merchants that enables them to extend their reach globally to support shoppers who want to pay with their preferred local payment method.
PPRO’s technology allows payment services providers and enterprises with payment platforms, such as such as Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, and Worldpay, to plug in via simple APIs and offload the intricate complexities and massive costs of providing payment method choice to local consumers.
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.
Simon Black, CEO of PPRO, says: “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.”