PPRO looks to boost growth with new €85m capital raise

PPRO, a UK-based paytech company, has successfully closed an €85 million ($93 million) funding round.
The funding round involved a mix of new and existing investors, including Eurazeo, HPE Growth, Sprints, PayPal Ventures, JP Morgan, Citi Ventures, and funds managed by BlackRock.
Established in 2006 and headquartered in London, PPRO offers digital payments infrastructure for banks and businesses to scale their checkout and acquiring services.
The company plans to utilize the new capital to pursue growth in key markets and enhance its global network of local payment methods.
PPRO had previously raised $270 million in funding in 2021, leading to a valuation exceeding $1 billion.
In recent years, PPRO has expanded its market presence through various industry partnerships and integrations, including collaborations with GrabPay, UnionPay International, and Toss Pay, enabling entry into the South Korean market.
In 2023, CEO Simon Black stepped down from his role, with Motie Bring, the former Chief Commercial Officer, being promoted to lead the company.
Rahul Raswant, PPRO’s CFO since June 2022, emphasizes the company’s focus on helping customers access new markets by providing local payment methods.