Funding round
PPRO Growth
Reported as "Growth Equity"
PPRO, which works in payment activation and acceptance services in London, raised $50M in a Growth round announced on 16 Jul 2018, led by PayPal. 3 firms took part, 2 of them already investors. It is PPRO's first venture round on record.
$50M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
PPRO did not disclose a valuation in this round. It is PPRO's first venture round on record, 12 years after it was founded in 2006. It is 7.8% of the $643M PPRO has raised in the venture rounds on record. PPRO raised again 25 months later: a Growth round of $50M in Aug 2020. Its next priced round, a Growth in Jan 2021, valued it at $1.00B.
Investors
Who put money in
PayPal led the round with 2 other firms. PayPal and HPE Growth had backed PPRO before.
Lead investor
- PayPal existing investor
Also in the round
- Citi Ventures new investor
- backs 14 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
11 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $47M, and this round was close to the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Stripe Payment Processing & Point of Sale | 26 Sep 2018 | $245M | $20.00B | Tiger Global and Sequoia Capital |
| Payment Processing & Point of Sale | 22 May 2018 | $35M | not disclosed | not named |
| Payment Processing & Point of Sale | 27 Sep 2018 | $25M | not disclosed | Goldman Sachs |
| Toss Business Payment Processing & Point of Sale | 10 Dec 2018 | $80M | $1.20B | Ribbit |
| BillDesk Payment Processing & Point of Sale | 1 Jan 2019 | $300M | not disclosed | Visa |
| BillDesk Payment Processing & Point of Sale | 1 Feb 2019 | $85M | $1.00B | Visa |
| Payment Processing & Point of Sale | 7 Feb 2019 | $64M | $273M | Insight Partners |
| Payment Processing & Point of Sale | 13 Dec 2017 | $47M | $950M | Dawn Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did PPRO raise in its Growth round?
PPRO raised $50M in its Growth round, announced in Jul 2018.
Who led PPRO's Growth round?
PayPal led it, with Citi Ventures and HPE Growth.
What was PPRO's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
11 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $47M, and this round was close to the median.
Did PPRO raise again after this round?
Yes: a Growth round in Aug 2020 of $50M.