This announcement is posted in businesswire and discusses the latest funding round for PPRO, the London-based payments fintech founded in 2006. The company does payments processing, acceptance and so forth across multiple markets and payment types. This piece indicates that they have received a $180 million injection from several investors, so apparently the pandemic has created opportunity given the large shift to e-commerce.
‘PPRO has established itself as the most trusted infrastructure provider in the cross-border payments space, powering international growth for payment service providers and platforms such as Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, and Worldpay. PPRO’s local payments platform and expert services help its customers get the industry’s best conversion rates in markets around the world by allowing online shoppers to pay with their preferred payment method.’
Given the growth in e-commerce, expectations are that cross-border payments acceptance in local currencies and methods will continue to be a priority, which is where PPRO plays. Volumes have increased substantially so the firm seems intent on further global expansion into various markets, which is at least part of the intended use for the capital infusion.
‘PPRO has established itself as the most trusted infrastructure provider in the cross-border payments space, powering international growth for payment service providers and platforms such as Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, and Worldpay. PPRO’s local payments platform and expert services help its customers get the industry’s best conversion rates in markets around the world by allowing online shoppers to pay with their preferred payment method…“We are delighted to support Simon and the team at PPRO as they continue to develop best-in-class local payment solutions,” commented Nathalie Kornhoff-Brüls, Managing Director at Eurazeo Growth. “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. Payment service providers, however, no longer have a choice as merchants and their customers are pushing for the adoption.” ‘
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group