Global Processing Services secures $300 million for its API-based payments platform

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Global Processing Services (GPS), trusted and proven go-to payments processing partner for today’s leading challenger brands, including Revolut, Starling Bank and Curve, has today secured a $300 million round from Advent International and Viking. The new capital will be mainly used to accelerate their product and further expand their business globally.

We are delighted to partner with Advent and Viking, with their deep experience and track record in payments and fintech, and, who share our bold vision for the next generation of global payments,” said Joanne Dewar, GPS’ CEO.

Founded in 2007, GPS is certified by Mastercard and Visa to process and manage any credit, debit or prepaid card transaction globally, with offices in London, Newcastle, Singapore and Sydney. Their API-based payments and embedded finance platform is equipped to meet the stringent standards required by Tier 1 banks and has integrated with more than 40 issuing banks and operates programmes for 180+ customers in 60 countries, using over 150 currencies.

Since its inception, the company has issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions on its platform.

Dewar added that GPS has been at the heart of the global fintech explosion, simplifying access to the global rails of the new digital payments era. This investment will allow us to turbo charge our geographic footprint and product expansion plans as we drive the payments ecosystem in the key verticals of today and tomorrow, including digital banking, Buy Now Pay Later, B2B virtual cards, financial empowerment, and much more,”

GPS provides key payments technology infrastructure, enabling the global fintech revolution. Their agile, resilient and modern cloud platform drives some of the most innovative use cases and allows fintechs to globalise through a single API,” said Peter James, director at Advent International, in a statement. “Through their customer-centric innovation, GPS has quietly established a leading position in key markets around the world with an attractive, diversified and global customer base. Together with Viking, we look forward to supporting GPS’ leadership team to expand the business’s product offering and accelerate its international reach.”

Source: GlobalProcessingServices “Global Processing Services raises over US$300 million to accelerate technology development and global growth”

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