money

Payment infrastructure provider announces investments which take value to $1bn

A payment infrastructure provider has announced new investments which have taken its value over $1bn.

PPRO has announced investments from JPMorgan Chase & Co and Eldrige, an extension of the latest $180m investment from Eurazeo Growth, Springs Capital, and Wellington Management.

Payment companies use PPRO’s infrastructure to process payments from across the world.

PPRO has seen growth due to the ecommerce boom and increased its global team by more than 60 per cent in 2020.

Its expansion has led to the development of partnerships with local payment methods in several markets.

Simon Black, CEO of PPRO, 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 payments capabilities.”

Sanjay Saraf, managing director, global head integrated payments group at JPMorgan Chase, 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.”

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