PPRO is now valued at more than $1 billion following a 拢132 million funding round.听听
The London firm, a global provider of听local payments infrastructure,听has been backed by听Eurazeo Growth, Sprints Capital and Wellington Management.听听
Just six months听ago听the company raised $50m from Sprints Capital,听Citi Ventures and HPE Growth.听听
PPRO听powers听cross-border payments for providers and platforms听including听Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal and Worldpay.听听
Its local payments platform and services听find the听best conversion rates in markets around the world by allowing online shoppers to pay with their preferred payment method.听
PPRO听doubled its year-on-year transaction volumes in the fourth quarter of 2020听and听has听expanded its global team by 60听per cent听in the last听12听months.听
鈥淚 am very proud of what the PPRO team has accomplished,鈥� said Simon Black, CEO of PPRO.
鈥淏eyond securing the support of such prestigious investors and achieving a milestone valuation, we鈥檝e enabled our customers to grow at record numbers during what has been a tough time for many.听听
鈥�By giving businesses the ability to offer payment choice, we鈥檝e helped give people around the world better access to goods and services that improve their lives.听
鈥淥ur 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.鈥�听
As eCommerce continues to grow at an unprecedented pace, businesses are being pressed to offer seamless checkout experiences and locally preferred payment options. PPRO鈥檚 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.听听
The company鈥檚 singular focus on local payment methods helps its customers rapidly speed up time to market and reduce operational costs up to 10 times.听
鈥淲e are delighted to support Simon and the team at PPRO as they continue to develop best-in-class local payment solutions,鈥� commented Nathalie听碍辞谤苍丑辞蹿蹿-叠谤眉濒蝉, Managing Director at Eurazeo Growth.听听
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.听听
鈥�Payment service providers, however, no longer have a choice as merchants and their customers are pushing for the adoption.鈥�听