PPRO, a UK-based payments infrastructure provider, has secured an investment of $90m from JPMorgan Chase and Eldridge, extending its previously announced funding round.
In January this year, the firm bagged $180m from Eurazeo Growth, Sprints Capital, and Wellington Management, taking the company’s valuation to over $1bn.
The funding round, which helped the firm attain its unicorn status, was aimed at accelerating its global expansion and support the development of its border-free payment technology and services.
PPRO’s infrastructure is leveraged by payment companies to accept payments from consumers globally.
In addition to providing access to a full payments portfolio, PPRO offers technology and services that enable its clients to deliver the ‘industry’s best conversion rates’ to the customers around the world.
PPRO CEO Simon Black said: “I’m delighted to welcome JPMorgan Chase and Eldridge to our world-class group of investors as we continue to strengthen and expand our local and alternative payment capabilities.
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PPRO said it witnessed a good growth in the wake of the e-commerce boom, that doubled its transaction volumes and increased its global team by over 60% last year.
Furthermore, the company has developed new strategic partnerships with local payment methods in high-growth markets, as part of its global expansion.
JPMorgan Chase managing director and Global Integrated Payments Group head Sanjay Saraf said: “Alternative payments adoption is increasing rapidly across the globe. We are proud to become a strategic investor in PPRO as they work on their next phase of growth.”
Last September, PPRO entered Indonesian market, with the integration of popular Indonesian payment methods DOKU and OVO.
The company also marked its entry to the Japanese e-commerce market last year, after adding payment methods Konbini and Pay-easy to its portfolio.