Dunedin is a private equity firm specialising in the UK mid-market. They maximise the value for all stakeholders by fully understanding the opportunity, working in partnership with management and bringing the skills that will make a difference. Relationships are core to their business. They are collegiate and transparent in our approach, working closely together as a team with management, advisors and investors. They have completed our own buyout and know that growing a company often means making difficult decisions. They are here to make it easier. Every business they invest in, they believe in. They invest where they can see the potential to create and deliver value growth. They are confident in the decisions they make and have a successful track record to prove it. Working with management, our joint successes have been recognised in the industry awards they have won.

Dunedin LLP

Advent International is a private equity firms that focused on buyouts and growth equity investments in five core sectors.

Advent International

Viking Global Investors is an investment firm that uses fundamental analysis to select investments across industries and geographies. It is a global investment firm managing more than twenty billion in capital across long-short equity and long-only strategies. The firm was established in 1999 and is headquartered in Greenwich, Connecticut, with offices in New York City, Hong Kong, and London.

Viking Global Investors

Temasek Holdings is a lender provider. The company offers debt financing and focuses on transforming economies, increasing middle-income populations, developing comparative advantages, and emerging champions. Financial services, transportation, industrial, consumer, real estate, telecommunications, media, technology, and life sciences are among the industries served by the firm.

Temasek Holdings

MissionOG partners with high-growth businesses that have proven models in segments where we have had success as operators and investors, including financial services and payments, data platforms, and software.  To help accelerate our partner companies, we invest financial capital and leverage a broad network of industry experts.  Headquartered in Philadelphia, MissionOG is led by a team that has effectively built and scaled companies through their various stages of growth to successful acquisitions.

MissionOG

Global Processing Services

Global Processing Services is a provider of a platform that processes payments and manages credit, debit, or prepaid card transactions. The platform enables enable the payments industry to deliver innovations through a combination of proprietary technology. It's offering, the GPS Apex is an issuer processing platform that enables integration with clients, issuers, Program Managers, card manufacturers, and other service providers. GPS Apex helps transactions to be processed securely and reliably while enabling some of the innovations in the payments sector. Craig Dewar and Tony Kerr established GPS in Douglas, Isle of Man in 2007.

Global Processing Services (GPS) is a British company that offers cloud-based infrastructure platform “GPS Apex” for FinTechs, digital banks, and embedded finance providers to issue and manage cards as well as offer payment processing services. Users can issue prepaid, loyalty, debit, and credit cards, leveraging the platform’s 95 issuer integrations (as of October 2021) to process transactions in over 60 countries and 150 currencies. The company also provides the infrastructure to embed agency banking, mobile payments (ewallets), and chargebacks, among others. GPS has a global presence with offices in the UK, Singapore, Australia, and Dubai.

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

Global Processing Services Rebrands as “Thredd” to Reflect Payments Industry Position

Mastercard

Mastercard is deepening a decade long collaboration with GPS, launching and scaling hundreds of card programmes for some of the most successful fintechs in the world.

Platforms that enable FinTechs to integrate a range of payment-related services such as one-time payments, subscriptions, and receipt management for domestic and cross-border transactions.


Global Processing Services (GPS) is a British company that offers cloud-based infrastructure platform “GPS Apex” for FinTechs, digital banks, and embedded finance providers to issue and manage cards as well as offer payment processing services. Users can issue prepaid, loyalty, debit, and credit cards, leveraging the platform’s 95 issuer integrations (as of October 2021) to process transactions in over 60 countries and 150 currencies. The company also provides the infrastructure to embed agency banking, mobile payments (ewallets), and chargebacks, among others. GPS has a global presence with offices in the UK, Singapore, Australia, and Dubai. By October 2021, GPS had over 180 customers ranging from large enterprises to FinTech startups. These included Revolut, Curve, Starling Bank, Zilch, WeLab Bank, and Paidy. Moreover, the company had issued over 190 million physical and virtual cards and had reportedly processed over 1.3 billion transactions in 2020.GPS raised USD 400 million in two tranches ( <a href="https://sp-edge.com/updates/7792?industryIds=53">USD 100 million </a>in January 2022 and <a href="https://sp-edge.com/updates/6037">USD 300 million </a>in October 2021), about a year after receiving an undisclosed strategic investment from Visa. The company earmarked the newly raised funds to invest in accelerating product innovations and expanding its global customer base. GPS intended to broaden its platforms to several verticals including buy-now-pay-later (BNPL), digital banking, and financial empowerment, among others.

Cross River Bank provides a white-label banking-as-a-service (BaaS) platform for enterprises, combining banking services, payments, and marketplace lending infrastructure to build fintechs. Its solutions comprise demand deposits, savings accounts, credit and debit cards, and payment clearing services, including automated clearing house (ACH) and real-time payments. The company also provides banking and payment infrastructure for the crypto industry, including risk management services for its crypto clients. Key customers and partnerships As of December 2020, the company had over 400 employees, and had entered into more than 30 partnerships. Moreover, as of March 2021, the platform had been used to support over 375,000 small businesses through the paycheck protection program (PPP).Cross River Bank teamed up with UK-based BaaS provider <a href="https://sp-edge.com/companies/421515">Railsr </a>in January 2019 to launch a common API for their platforms to be used globally. As of April 2022, Cross River had over 80 clients including lenders such as Affirm, Best Egg, and Upstart, neobanks such as <a href="https://sp-edge.com/companies/220119">Revolut </a>, and blockchain-based payment processing platform GreenBox. The platform reportedly originated over USD 24 billion in loans per annum, around 10x the value of loans it originated in 2015. Cross River Bank has expanded its operations by acquiring Betterfin, a platform offering lending-as-a-service (LaaS) solutions, in November 2021. Through the acquisition, Cross River Bank leveraged Betterfin’s software to digitize parts of the small-business lending process (such as origination and underwriting).The company partnered with <a href="https://sp-edge.com/companies/1643">American Express </a>(Amex) to enable FinTechs to issue credit cards through Cross River Bank, on the Amex network, while also providing select Amex benefits to the FinTechs.Funding and financials The company <a href="https://sp-edge.com/updates/9458">raised USD 620 million in funding </a>co-led by Eldridge and a16z, at a valuation of over USD 3 billion, to invest in product developments, recruitment, international expansion, and boosting strategic partnerships.

Cross River Bank

Synctera was co-founded in 2020 by Peter Hazlehurst, the former head of Uber Money, who previously led the development of Google Wallet. The company offers an API-based infrastructure platform for community and regional banks to find and partner with FinTechs. This enables FinTechs to leverage the former’s licenses to embed FDIC-insured mobile checking, debit cards, savings accounts, and payment innovations, among other features. The API platform offered to the banks will then be sold to the FinTechs to code on. Although the end customers interact with the FinTechs, they legally belong to the bank.<a href="https://sp-edge.com/updates/8117">Synctera mainly charges the banks </a>based on the interchange fees they earn (half of the interchange fees, as of January 2022) from the services provided. It does not charge them an initial amount to use the platform. Moreover, the platform also embeds fraud-as-a-service and charges FinTechs on a per transaction basis (4 cents per transaction) should they choose to use it. It subsequently shares that revenue 50/50 with the banks.The company launched the “t-minus10” project in January 2022, which offers a live sandbox for FinTechs to build apps, test, and go to market, enhancing their access to banking partners. It subsequently launched a “Smart Charge Card” (APIs to build, launch, and issue charge cards) and “White-label Banking App” (a codebase for developers to build embedded banking products or neobank apps) infrastructure in October 2022.Key customers and partnershipsIn February 2022, Lineage Bank (a community bank in Tennessee) and GoGetr (FinTech aiming to promote health and wealth management) became the first companies to launch a banking solution using the Synctera platform. As of March 2023, the platform was working with around 50 fintechs, of which 14 were live (including Wayapay and Float). Synctera reportedly had over 20 implementations set for launch in the following two months.Synctera announced a new card issuing and management infrastructure offering (Card-as-a-Service), in July 2021, which it developed in partnership with Mastercard and leading card issuing infrastructure disruptor, <a href="https://sp-edge.com/companies/64287">Marqeta</a>.Funding and financialsIn March 2024, Synctera raised USD 18.6 million in <a href="https://sp-edge.com/updates/27244">Series A1 extension</a> co-led by Lightspeed and Fin Capital. The company earmarked the funds to support business growth by facilitating more complex use cases across the US and international markets. The company also <a href="https://sp-edge.com/updates/16980?industryIds=53">raised USD 15 million</a> in funding led by NAventures in March 2023, to invest in expanding the platform’s use cases and broadening its geographic footprint beyond the US (including expanding to Canada). Meanwhile, Synctera has also partnered with the National Bank of Canada to enable companies to launch FinTech apps and embedded banking products in Canada.

Synctera

Based in the UK, Weavr, formerly known as Open Payments Cloud, was spun out of payment provider Ixaris in 2019. Weavr offers the infrastructure for enterprises to embed banking services across various industries, including education, fitness, logistics, etc. Weavr’s “Meta” platform combines multiple banking and payments partners in one platform through application programming interfaces (APIs). Using the APIs, enterprises can embed virtual banking services such as card payments, fund transfers, and international banking accounts.Weavr expanded its operations to Singapore in November 2022, as part of its global expansion plans.Key customers and partnershipsAs of July 2021, Weavr’s customers included Finway, Thanks Ben, and MySkillCamp, among others.In October 2019, Weavr partnered with payment service providers Global Processing Services (GPS), Paynetics, and iDenfy to enable developers to create and run sophisticated and streamlined payment experiences for their European customers through Weavr.Funding and financialsWeavr <a href="https://sp-edge.com/updates/8647?industryIds=53">raised USD 40 million </a>in Series A funding in February 2022, led by Tiger Global, less than a year after <a href="https://sp-edge.com/updates/4166">raising GBP 4 million (USD 5.5 million) </a>in seed funding in July. The funds were earmarked for business development and recruitment to support Weavr’s expansion to the US market, while also supporting its continued expansion in the UK and Europe.

Weavr

MX offers an open finance portal, data connectivity application programming interface (API), and MX platform API for banks, credit unions, and other financial service providers. The company’s solutions allow its clients to utilize financial data to reduce fraud, approve loans faster, and improve their customer experiences. In addition to APIs and connections, MX also offers a range of capabilities, including data aggregation, analytics, financial feed insights, wealth and investment services, and verification services. MX looks to enable banks and financial institutions to launch next-generation services and apps that automate and personalize financial experiences. As of January 2021, the company noted that it worked with more than 2,000 banks, credit unions, and FinTech companies, and its platform reached over 200 million end-users. Moreover, it also powered 43 of the top 50 digital banks as of the same period. In <a href="https://sp-edge.com/updates/8753?industryIds=53">February 2022, MX partnered </a>with <a href="https://sp-edge.com/companies/361160">Rize </a>, to enable users to access Rize’s banking infrastructure to build, launch, and scale financial products through a single API, thereby reducing the development time and cost. In January 2021, MX raised USD 300 million in a Series C funding round led by TPG Capital, at a valuation of USD 1.9 billion. The newly raised funds are to be invested in improving MX’s capabilities, expanding its global presence, and increasing its workforce. In January 2021, MX noted that its headcount tripled over the past two years, reaching 550 staff members. The company appointed Shane Evans as interim chief executive officer (CEO) in January 2022, to prepare the company for an IPO or sale (at a valuation of over USD 5 billion) and oversee its growth.

Bankable is a banking-as-a-service (BaaS) infrastructure provider allowing financial institutions and corporations to utilize its API to integrate banking services. It provides a platform for its enterprise customers to offer modular banking services, including ledger management (process data from multiple banks to support cash management for global corporate affairs), digital banking, payment cards, and e-wallets. The company expanded its platform by <a href="https://sp-edge.com/updates/19662">acquiring Arex Markets </a>in June 2023, to embed working capital solutions (such as flexible invoice financing, corporate credit cards, lodged cars, and revolving credit). The company has a global presence, with operations spanning from the US to the Middle East as of January 2021. Bankable noted that the expansion of its global footprint also helps its European and US FinTech clients expand their operations internationally. Key customers and partnerships In January 2020, the company partnered with the diversified FinTech infrastructure provider <a href="https://sp-edge.com/companies/85350">Plaid </a>, which enabled Bankable’s customers to use Plaid’s tech to connect to more than 15,000 banks in the US and Europe. Funding and financialsIn April 2019, <a href="https://sp-edge.com/companies/13061">Visa </a>invested an undisclosed sum in Bankable and entered a partnership with the startup. Through the partnership, Visa members obtained access to Bankable’s platform, while Bankable used VisaNet (Visa’s electronic global payments network) to extend its international payment and banking solutions.

Bankable

Platforms that allow FinTechs to integrate banking services such as opening and maintaining accounts, facilitating card payments, etc.


Companies that enable organizations to embed anti-money laundering (AML), identity verification, and know-your-customer (KYC) solutions.


Platforms that allow FinTechs to integrate lending services,  by typically applying AI/ML technology to a spending analysis to analyze creditworthiness.

Companies providing APIs and integrations for FinTechs to access securities markets, facilitate transactions and clearing, and provide insights to help end-users manage their finances.

May specialize in promoting inclusiveness in financial services, primarily in the investment and lending spaces

AI/ML can improve the quality of their offerings, such as using AI/ML to reduce biases

Used for payment completions, accessing banking and transaction data, and providing financial insights, among others

Global Processing Services

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless