Local payments platform PPRO has announced the completion of a dual tranche funding round totalling €85m to pursue growth in key markets and further enhance its global network of local payment methods.
The funding is provided by new and existing investors, including Eurazeo, HPE Growth, Sprints, PayPal Ventures, J.P. Morgan, Citi Ventures, and funds managed by BlackRock.
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PPRO and its investors react to the announcement
Rahul Raswant, Chief Financial Officer, PPRO, said: “PPRO had a stellar 2023, delivering record revenue. Our focus on helping customers access new markets by creating seamless local payment experiences is validated by the strong demand we’re seeing, as well as by this infusion of capital which represents a real vote of confidence in PPRO’s growth prospects.”
Anne-Charlotte Philbert, Managing Director, Growth at Eurazeo, added: “PPRO has set itself apart as a leader in the payments industry and is at the forefront of enabling businesses to sell goods and services to anyone in the world using their preferred way to pay. The company combines distinctive technology, robust financial performance with an exceptional management team, and is firmly on track to reach profitability. We are more enthusiastic than ever to continue our support of PPRO’s mission to simplify access to local payment methods.”
James Loftus, Managing Partner, PayPal Ventures, commented: “Since our first investment in 2018, PPRO has grown its market reach and prominence in the constantly evolving payments space. PayPal values our partnership with PPRO and we are proud to be part of its journey.”
To coincide with IWD 2024, Prachi Vazirani, Senior Global Payments Partnership Manager at PPRO, spoke to RBI to discuss why she is so passionate about the value and impact that inclusion brings to the workplace and why she is working so hard to inspire this culture at PPRO. Additionally, at the end of 2023, PPRO added Swiss payment app TWINT to its payment method portfolio.
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