Paymentology, a cloud-native global issuer-processor operating across close to 70 countries, has secured $175m in an investment round co-led by private equity firms Apis Partners and Aspirity Partners.
The round was co-led by Apis Partners (“Apis”), a private equity firm focused on financial infrastructure and services, and Aspirity Partners (“Aspirity”), a pan-European private equity firm with a focus on financial technology and services as well as enterprise technology and connectivity. The capital will be directed towards continued international expansion, product development and team growth as the company responds to growing demand for modern issuer processing infrastructure worldwide.
For Apis, the deal — made through Apis Growth Fund III — marks its 16th investment in the payments sector. Aspirity is deploying the investment as its first from its inaugural fund, with the firm describing the deal as a result of its proactive thematic origination model and the contribution of its Innovator & Leader network. Both investors bring deep sector expertise and global payments networks to support Paymentology’s next phase of growth.
Paymentology’s performance has been strong in the lead-up to the raise, with new sales climbing 117% year-on-year in FY25 and transaction volumes rising 65%. Demand has been driven by digital banks, embedded finance providers, digital asset-linked card programmes and expense management platforms, as well as established banks looking to replace ageing infrastructure.
The company serves a geographically diversified client base with meaningful exposure to high-growth regions including the Middle East, Latin America, Africa and the Asia-Pacific. The company will look to use the capital not only to grow its core issuer-processing business, but also to push into adjacent areas such as credit, stablecoin, tokenisation and AI-driven services.
Paymentology provides a highly configurable, cloud-native processing platform that enables real-time card and digital payment issuance at scale for financial institutions in close to 70 countries. Its platform allows issuers to launch, adapt and manage card programmes efficiently across multiple markets. The company’s client base includes prominent FinTechs such as M-Pesa by Safaricom, RedotPay, Rain, TrueMoney and ARQ, alongside fast-growing neobanks such as GoTyme, Snappi, Wio Bank, D360 and Albo.
The investment comes against the backdrop of a global payments market estimated to reach $49 trillion by 2026, with much of the issuing layer still constrained by legacy systems. Paymentology argues that this creates a significant opportunity for modern, cloud-native platforms to step in, offering issuers greater speed, flexibility and control over their payment experiences.
Paymentology CEO Jeff Parker said, “The future of finance is already here, but legacy infrastructure continues to hold back innovation. At Paymentology, we see a significant opportunity to remove that friction and enable our clients to move at the pace the market demands. We’ve built an issuing platform designed for growth, helping digital banks, fintechs and financial institutions launch, scale and expand their card programmes with confidence.
“By combining global capability with the flexibility to adapt locally, we enable our clients to compete more effectively with speed, control and efficiency, in an increasingly dynamic landscape. This investment and the strength of our partnership with Apis and Aspirity is a strong endorsement of our platform and strategy. It positions us to accelerate our growth, expand our capabilities, and continue supporting our clients as they build momentum, and unlock truly unstoppable progress.”
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