PPRO, a local payments platform-as-a-service with operations in Singapore, secured $50 million with Sprints Capital lead, Citi, and HPE Growth
The payments platform disclosed its plans to deploy funds to scale the organization and accelerate strategic growth plans for its global platform.
PPRO provides partners with the ability to accept locally preferred payment methods like e-wallets, bank transfers, cash, and local cards in more than 175 markets across the globe.
The company aims to remove the complexity of domestic and cross-border payments for top-tier financial institutions, payment service providers, and merchants.
The firm reports today an 85 percent increase in transaction volume from last year. Due in part to a massive digital shift in e-commerce consumer behavior, PPRO is now processing an annual run rate of US$9 billion in payment transaction volume.
PPRO has also grown the size of its team by 25 percent since the beginning of the year. The majority of these new hires are positioned to strengthen PPRO’s three product development centers in Germany, Singapore, and Brazil.