PPRO, the US-headquartered payment software producer that counts digital payment processor PayPal and financial services firm Citi as investors, added $90m to a funding round now totalling $270m yesterday.
Investment bank JPMorgan Chase and investment firm Eldridge supplied the new funding, which followed $180m from Eurazeo’s Growth fund, Sprints Capital and Wellington Management in January this year.
PPRO has built a software platform that powers international payment services for businesses, enabling them to offer customers a wider range of payment options which all link to the same place. It said this week it doubled the number of transactions through the platform in 2020.
The latest round came after the company secured $50m in an August 2020 round led by Sprints Capital and backed by Citi’s strategic investment arm Citi Ventures, in addition to HPE Growth.
Citi Ventures and existing backer HPE Growth had previously contributed to another $50m round led by PayPal two years earlier.
Simon Black, PPRO’s chief executive, said: “I am 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.”
