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

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

Date:

  • 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.

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