UK-based payments infrastructure provider PPRO has bagged $180m in a funding round, taking the company’s valuation to more than $1bn.
The fresh investment, which helps the firm attain its unicorn status, came from Eurazeo Growth, Wellington Management and existing backer Sprints Capital.
The latest round brings the total amount raised by the company to $230m, in the last six months.
In addition to Sprints Capital, PPRO’s other existing investors include Citi Ventures and HPE Growth.
PPRO will use the capital to fuel its global expansion and support the development of its border-free payment technology and services.
A cross-border payments infrastructure provider, PPRO powers payment service providers and platforms including Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, and Worldpay.
Moreover, the company’s local payments platform allows shoppers to pay using their preferred payment method with best conversion rates in global markets.
PPRO CEO Simon Black said: “I am very proud of what the PPRO team has accomplished.
“Beyond securing the support of such prestigious investors and achieving a milestone valuation, we have enabled our customers to grow at record numbers during what has been a tough time for many.
“By giving businesses the ability to offer payment choice, we have helped give people around the world better access to goods and services that improve their lives.
“Our 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.”
PPRO’s transaction volumes have doubled in Q4 2020, and the company expanded its global team by 60%.
In September 2020, the company entered the Indonesian market, with the integration of popular Indonesian payment methods DOKU and OVO.
In May, PPRO set foot in the Japanese e-commerce market after adding popular payment methods Konbini and Pay-easy to its portfolio.