PPRO, an FCA-regulated E-Money Institution controlled by Germans, has successfully concluded a funding round, securing €85 million. This financial boost is set to propel the fintech’s growth initiatives in crucial markets and expand its extensive network of local payment methods worldwide. With the latest funding, PPRO is set to enhance its partnerships and extend its market reach further, reinforcing its position in the rapidly evolving payments landscape.
The fresh injection of capital comes from a mix of new and established investors, including notable names like Eurazeo, HPE Growth, Sprints, PayPal Ventures, JPMorgan, Citi Ventures, and entities affiliated with BlackRock. This diverse group of investors underlines the strong confidence in PPRO’s trajectory and its role in revolutionizing local payment solutions.
Following a year of record revenue in 2023, PPRO is poised to leverage its newfound resources to further its market expansion and solidify its position as a leader in the payment industry. Rahul Raswant, PPRO’s Chief Financial Officer, emphasized the company’s commitment to enabling customers to penetrate new markets seamlessly through local payment experiences. This commitment is bolstered by the substantial demand for PPRO‘s services and the recent capital infusion, signaling robust growth prospects for the company.
The company’s performance was highlighted in 2021 when it achieved unicorn status following a US$180 million investment round. With this latest funding, PPRO is determined to continue its ascension in the financial technology sector.
Anne-Charlotte Philbert, Managing Director of Growth at Eurazeo and a lead investor in PPRO praised the company for distinguishing itself as a payments industry leader. She highlighted PPRO‘s unique combination of innovative technology, strong financial performance, an exceptional management team, and its trajectory toward profitability. Eurazeo‘s ongoing support for PPRO underscores the company’s crucial role in simplifying access to local payment methods.
