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FINANCIAL SERVICES | Staff Reporter, Singapore
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PPRO announces over $180m in investment, reaches unicorn status

The status comes as the investment values PPRO at over US$1b.

Payments infrastructure provider PPRO has announced over US$180m in new investment, officially giving them a fintech unicorn status amidst its over US$1b investment value.

“Our unique local payments infrastructure empowers our customers to quickly increase their global footprint. This investment will help us deliver the highest performance possible for companies leading the global payments industry,” PPRO CEO Simon Black said.

The recent investors include Eurazeo Growth, Sprints Capital, and Wellington Management.

PPRO has also doubled its YoY transaction volumes in Q4 of 2020, expanded its global team by 60% in the last 12 months, and developed new strategic partnerships with local payment methods in high-growth markets like Singapore.

The rapid shift to a digital-first economy has allowed the payments sector to grow in 2020, leading to a 40% jump in contactless payments globally. Singapore also saw a 70% increase of its people using cashless payment.
 

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