PPRO announces €85m funding to fuel growth

By Gloria Methri

PPRO, a UK-based local payments platform, has completed a dual-tranche funding round totalling €85 million to pursue growth in key markets and further enhance its global network of local payment methods.

The funding is provided by new and existing investors, including Eurazeo, HPE Growth, Sprints, PayPal Ventures, J.P. Morgan, Citi Ventures, and funds managed by BlackRock.

“PPRO had a stellar 2023, delivering record revenue,” said Rahul Raswant, PPRO’s Chief Financial Officer. Our focus on helping customers access new markets by creating seamless local payment experiences is validated by the strong demand we are seeing and this infusion of capital, which represents a real vote of confidence in PPRO’s growth prospects.”

“PPRO has set itself apart as a leader in the payments industry and is at the forefront of enabling businesses to sell goods and services to anyone in the world using their preferred way to pay,” added Anne-Charlotte Philbert, Managing Director—Growth at Eurazeo. The company combines distinctive technology, robust financial performance, and an exceptional management team and is firmly on track to reach profitability. We are more enthusiastic than ever to continue our support of PPRO’s mission to simplify access to local payment methods.”

“Since our first investment in 2018, PPRO has grown its market reach and prominence in the constantly evolving payments space,” said James Loftus, Managing Partner, PayPal Ventures. “PayPal values our partnership with PPRO, and we are proud to be part of its journey.”