PPRO

UK-based PPRO offers payment infrastructure through a set of application programming interfaces (APIs) for payment service providers (PSPs), banks, and enterprises, to build payment gateways, payment processing, and merchant acquirer services.

The infrastructure integrates localized payment methods, which enable cross border transactions and allows merchants to expand their operations globally. In essence, PPRO looks to mitigate the barriers to international trade caused by the fragmentation of payment systems, as popular payment methods tend to vary by country.

PPRO noted that the transaction volume through its platform rose 60% year-over-year in 2020 to reach USD 11 billion in processed payments.

The company expanded its operations to Indonesia and Singapore during 2020, and subsequently acquired Alpha Fintech , a cloud-based digital payment infrastructure provider primarily focusing on Asia Pacific (APAC), in March 2022. PPRO maintained its expansion momentum in the region in 2023, by broadening its presence to South Korea , in February, and partnering with NIPL to enable access to UPI (Indian real-time payment system for cross-border transactions) in April.

Key customers and partnerships

As of March 2021, PPRO had over 100 large global customers, including PayPal, Mastercard Payment Gateway Services, Stripe, and Citi.

In May 2024, PPRO partnered with Denmark-based digital banking platform Lunar and Sweden-based mobile payment provider Swish to enhance payment capabilities and expand product reach in Sweden. In September 2022, The company partnered with Australian BNPL solutions provider ZIP, as well as with the most popular e-wallets in Malaysia – GrabPay and Touch ‘n Go – to expand its global operations. In September 2022, The company partnered with Australian BNPL solutions provider ZIP , as well as with the most popular e-wallets in Malaysia – GrabPay and Touch ‘n Go – to expand its global operations.

Funding and financials

In March 2021, PPRO raised USD 90 million in a funding round led by JPMorgan Chase (JPM) and Eldridge shortly after receiving unicorn status through a USD 180 million funding round in January 2021. Alongside the funding, PPRO also partnered with JPM to enable the bank’s credit card business to gain more global traction as a payment method and to help JPM’s business banking customers expand in more markets worldwide.