Global Processing Services announces the receiving of a $100m investment

By Joy Dumasia

Global Processing Services, the global payment technology platform, announced the closing and upsizing of its latest fundraise at over US $400 million. Temasek, the global investment company headquartered in Singapore, and MissionOG, a US-based growth equity firm, joined the over US $300 million initial round, co-led by Advent International through Advent Tech and affiliate Sunley House Capital and Viking Global Investors. 

GPS is an API-first payment technology platform, which enables innovative card programmes for the world’s leading FinTechs, digital challenger banks and embedded finance providers. GPS’s technology and partnership approach has helped scale some of the most successful disruptive FinTechs worldwide, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank, and Paidy. 

The new investors’ additional investment and strategic support aim to accelerate GPS’ growth trajectory further. Leveraging its strong reputation and innovative technology platform, the company plans to respond to customer demand by expanding internationally across Europe, APAC and MENA, and accelerating new product and technology developments. The new investors joining Advent and Viking bring deep FinTech and payment expertise globally. 

Gene Lockhart, Chair at GPS, said: “GPS is an innovative technology company, and we believe their unique position at the heart of the global payments ecosystem ideally positions them to power the next generation of financial services. With the deep network and experience, MissionOG brings to the table, we look forward to being a trusted and valued partner of Joanne and the entire team.” 

Joanne Dewar, Chief Executive Officer at GPS, said: “The upsizing of this latest round of investment is an important step forward for the company and a strong endorsement of our strategy. We are a company that has grown rapidly in recent years, driven by our commitment to innovation and the delivery of a single scalable technology platform. The expertise that our new partners bring to GPS will be invaluable as we enter our next phase of geographic expansion and technology innovation.”