Pair of private equity firms take control of Global Processing Services

Global Processing Services, a global payment technology platform, has scored $300m in an investment.

The investment was supplied by Advent International and Viking Global Investors, which makes them co-controllers of the FinTech company.

Global Processing Services enables FinTechs, challenger banks and embedded finance providers implement card programs. Its technology has been used by Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. The platform is used across Europe, Asia Pacific and the Middle East.

To date, its technology has issued more than 190 physical and virtual cards. Last year, it processed over 1.3 billion transactions.

Advent International director Peter James said, “GPS provides key payments technology infrastructure, enabling the global FinTech revolution. Their agile, resilient and modern cloud platform drives some of the most innovative use cases and allows FinTechs to globalise through a single API.

“Through their customer-centric innovation, GPS has quietly established a leading position in key markets around the world with an attractive, diversified and global customer base. Together with Viking, we look forward to supporting GPS’ leadership team to expand the business’s product offering and accelerate its international reach.”

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