Funding round
PPRO Growth
Reported as "Growth Equity"
PPRO, which works in payment activation and acceptance services in London, raised $180M in a Growth round announced on 19 Jan 2021, at a $1.00B post-money valuation. 3 firms took part. It is PPRO's third venture round on record; the one before was a Growth in Aug 2020.
$180M
Amount raised
$1.00B
Post-money valuation
$820M pre-money
3
Investors
no lead named
18%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced PPRO at $1.00B after the new money. The $180M bought investors about 18% of the company. It came 5 months after PPRO's Growth. It is 28% of the $643M PPRO has raised in the venture rounds on record. PPRO raised again 2 months later: a Bridge round of $270M in Mar 2021.
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- Eurazeo backs 103 venture-backed companies new investor
- backs 13 venture-backed companies new investor
- Wellington Management new 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
26 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 1.8 times 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 | 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 | 12 Nov 2020 | $37M | not disclosed | MiddleGame Ventures and Ventura Capital |
| Payment Processing & Point of Sale | 1 Apr 2021 | $100M | not disclosed | Cannae Holdings |
| Payment Processing & Point of Sale | 27 Oct 2020 | $25M | not disclosed | Macquarie |
| Payment Processing & Point of Sale | 25 May 2021 | $60M | not disclosed | Initialized |
| Payment Processing & Point of Sale | 29 Sep 2020 | $35M | not disclosed | Insight Partners |
| EBANX Payment Processing & Point of Sale | 15 Jun 2021 | $430M | not disclosed | Advent International |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did PPRO raise in its Growth round?
PPRO raised $180M in its Growth round, announced in Jan 2021.
Which investors took part in PPRO's Growth round?
Eurazeo, Sprints and Wellington Management.
What was PPRO's valuation at the Growth round?
$1.00B post-money ($820M pre-money).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
26 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 1.8 times the median.
Did PPRO raise again after this round?
Yes: a Bridge round in Mar 2021 of $270M.