back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

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

By Joy Dumasia

January 14, 2022

  • Europe
  • FinTech
  • Global Processing Services
Share

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.” 

Previous Article

January 14, 2022

HooYu expands KYC offering with open banking identity and affordability checks

Read More
Next Article

January 14, 2022

Visa introduces cloud-based payment acceptance platform

Read More










IBSi Daily News Analysis

5G, India, Telecom

August 09, 2022

Europe

The 5G race has begun in India; how will it affect payments?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

KeyBank selects BlueSnap for expanded payment gateway options

Read More

Today

IDEX Biometrics and Reltime to launch a Web3 biometric payment card

Read More

Today

Infinicept launches Infiniport, enabling ‘BYOP’ for embedded payments

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022