PPRO secures funding for next phase of growth

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Lucy Ingham
Lucy Ingham
Head of Content
Lucy is Head of Content at FXC Intelligence, overseeing all content and taking deep dives into the trends and data driving changes in payments. Before joining FXC Intelligence, Lucy worked as a… Read more
  • PPRO, which offers payments technology in markets across the globe and has around 300 employees worldwide, has secured US$90m in additional funding to put towards Asia-Pacific expansion.
  • The firm secured the ‘secondary transaction’, as it is known, from JPMorgan and Eldrige as part of a wider push for new investment.
  • The firm’s chief executive officer said that he was looking forward to working alongside the two new investors in the future.

Payments infrastructure platform PPRO has announced that it has secured almost US$100m in funding to put towards an expansion in a key market.

The firm, which is based in China and Singapore, said that it had received the funding as part of its move to expand its cross-border payments technology offer in the Asia-Pacific region.

It is believed that the company, which offers payments technology and other related services in more than 100 e-commerce zones across the globe, will focus on Japan and India in particular when it expands.

The total of the new investment sits at around US$90m.

The firm raised the cash from backers JPMorgan and Eldrige in what is known as a secondary transaction.

This top-up means that the amount of funding that the company has raised since the start of January 2021 now sits at around US$270m.

JPMorgan will also help generate business for PPRO by marketing it to sellers who use the bank.

This will take place not only in the Asia-Pacific region but also in other markets such as Latin America.

In a statement, a leader at JPMorgan said that the growth in demand for services offered by PPRO was part of the reason why the company opted to invest.

Sanjay Saraf, who serves as the firm’s integrated payments group’s global head, described the world-leading financial services organisation as a “strategic investor” in PPRO.

“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,” he said.

For PPRO’s part, the chief executive officer there said that the company was looking forward to working alongside such big names.

Simon Black said that the firm’s current crop of investors were “world-class” – and that the latest additions would improve it even further.

“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,” he said.

The transaction is understood to have involved various third parties providing advice and support.

Financial Technology Partners worked as financial advisors.

Noerr offered legal support to PPRO, according to press reports.

PPRO has more than 300 employees across the globe, and it is regulated by the Financial Conduct Authority in the UK.

It is also regulated for operation in Luxembourg.

To learn more about what’s going on in the international money transfers sector, just go to this page and read some more reviews about the providers.


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