Payments infrastructure company PPRO has extended its recent funding round by an additional $90m.
The capital comes from JPMorgan Chase & Co. and Eldridge.
PPRO initially secured $180m from Eurazeo Growth, Sprints Capital and Wellington Management in January. The round helped the FinTech increase its valuation to more than $1bn.
The company, which offers infrastructure for accepting payments from customers around the world, doubled its transaction volumes in 2020. Last year, the company also managed to grow its global team by 60%.
Its global expansion efforts has helped it form new strategic partnerships with payment methods in high-growth markets from Indonesia to Italy, it said.
PPRO CEO Simon Black 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 payment capabilities.”
The company’s technology enables enterprises to access local payment methods in more than 175 e-commerce markets.
Financial Technology Partners served as the exclusive financial advisor and Noerr acted as legal advisor.
JPMorgan Chase managing director, global head integrated payments group Sanjay Saraf 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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