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 5 Aug 2020, led by Sprints. 3 firms took part. It is PPRO's second venture round on record; the one before was a Growth in Jul 2018.
$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 came 25 months after PPRO's Growth. It is 7.8% of the $643M PPRO has raised in the venture rounds on record. PPRO raised again 5 months later: a Growth round of $180M in Jan 2021, at $1.00B post-money.
Investors
Who put money in
Sprints led the round with 2 other firms.
Lead investor
- backs 13 venture-backed companies new investor
Also in the round
- Citi Ventures new investor
- backs 14 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
23 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 50% of the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 19 Aug 2020 | $33M | not disclosed | not named |
| Payment Processing & Point of Sale | 29 Sep 2020 | $35M | not disclosed | Insight Partners |
| Payment Processing & Point of Sale | 27 Oct 2020 | $25M | not disclosed | Macquarie |
| Payment Processing & Point of Sale | 28 May 2020 | $125M | not disclosed | Goldfinch Partners |
| Payment Processing & Point of Sale | 12 Nov 2020 | $37M | not disclosed | MiddleGame Ventures and Ventura Capital |
| Payment Processing & Point of Sale | 8 Jan 2021 | $175M | $1.00B | not named |
| Payment Processing & Point of Sale | 21 Jan 2021 | $69M | not disclosed | not named |
| Payment Processing & Point of Sale | 20 Jan 2020 | $100M | $460M | Dawn Capital and HMI Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did PPRO raise in its Growth round?
PPRO raised $50M in its Growth round, announced in Aug 2020.
Who led PPRO's Growth round?
Sprints 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?
23 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 50% of the median.
Did PPRO raise again after this round?
Yes: a Growth round in Jan 2021 of $180M at $1.00B post-money.