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JPMorgan Chase joins PPRO funding round

JPMorgan Chase joins PPRO funding round

Payments infrastructure provider PPRO has topped up its latest $180 million funding round with an additional $90 million investment from JPMorgan Chase and Eldridge.

PPRO ventured into Unicorn territory in January after picking up $180 million in funding from Eurazeo Growth, Sprints Capital, and Wellington Management.

Commenting on its investment in PPRO, Sanjay Saraf, global head integrated payments group at JPMorgan Chase, says: “Alternative payments adoption is increasing rapidly across the globe. We are proud to become a strategic investor in PPRO as they work on their next phase of growth.”

PPRO 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 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.

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