Funding round
PPRO Growth
Reported as "Growth Equity"
PPRO, which works in payment activation and acceptance services in London, raised $93M in a Growth round announced on 13 Mar 2024. 8 firms took part. It is PPRO's fifth venture round on record; the one before was a Bridge in Mar 2021.
$93M
Amount raised
85,000,000 EUR converted
Not disclosed
Post-money valuation
8
Investors
no lead named
Valuation
What this round says about the price
PPRO did not disclose a valuation in this round; its last disclosed one was $1.00B at the Growth (Jan 2021). It came 36 months after PPRO's Bridge. It is 14% of the $643M PPRO has raised in the venture rounds on record. No later venture round is on record for PPRO.
Investors
Who put money in
8 firms took part; no lead investor was named.
Investors
- Eurazeo backs 103 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- backs 13 venture-backed companies new investor
- PayPal Ventures new investor
- J.P. Morgan new investor
- Citi Ventures new investor
- BlackRock new investor
- backs 11 venture-backed companies 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
25 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $60M, and this round was 1.5 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Addi Payment Processing & Point of Sale | 24 Mar 2024 | $36M | not disclosed | Andreessen Horowitz and Union Square Ventures |
| Payment Processing & Point of Sale | 27 Feb 2024 | $20M | not disclosed | Alpha Wave Global |
| SumUp Payment Processing & Point of Sale | 22 May 2024 | $307M | not disclosed | Sixth Street |
| Bilt Rewards Payment Processing & Point of Sale | 24 Jan 2024 | $200M | $3.10B | General Catalyst |
| Aspire Payment Processing & Point of Sale | 29 Jan 2024 | $79M | not disclosed | not named |
| Bridge Payment Processing & Point of Sale | 22 May 2024 | $58M | not disclosed | Sequoia Capital |
| Payment Processing & Point of Sale | 1 Jan 2024 | undisclosed | not disclosed | not named |
| Payment Processing & Point of Sale | 1 Jun 2024 | $125M | not disclosed | Summit Partners |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did PPRO raise in its Growth round?
PPRO raised $93M in its Growth round, announced in Mar 2024.
Which investors took part in PPRO's Growth round?
Eurazeo, HPE Growth, Sprints, PayPal Ventures, J.P. Morgan and Citi Ventures and 2 more.
What was PPRO's valuation at the Growth round?
It was not disclosed; its last disclosed one was $1.00B at the Growth (Jan 2021).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
25 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $60M, and this round was 1.5 times the median.