PPRO, provider of local payments infrastructure in Singapore, has secured US$90 million in additional investments from JPMorgan Chase & Co. and Eldrige.
The latest investment is an extension of the $180 million round from Eurazeo Growth, Sprints Capital, and Wellington Management announced just weeks ago — bringing the total round to $270 million.
Leading payment companies rely on PPRO’s infrastructure to accept payments from consumers all over the world. Beyond offering access to a comprehensive payments portfolio, PPRO’s technology and value-added services enables them to promise industry-best conversion rates to their global customers.
“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,” said Simon Black, CEO of PPRO.
PPRO has experienced rapid growth in the wake of the e-commerce boom, doubling its transaction volumes and increasing its global team by over 60% in 2020.
The company’s continued global expansion has led to the development of new strategic partnerships with local payment methods in high-growth markets from Indonesia to Italy.
“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,” said Sanjay Saraf, managing director and global head of Integrated Payments Group at JPMorgan Chase.
Financial Technology Partners acted as exclusive financial advisor and Noerr as legal advisor to PPRO in the transaction.