Pyypl accelerates growth with $20m series B investment

By Leandra Monteiro

Pyypl, the Middle East and Africa (MEA) focused financial services platform and Hub71 company has closed its target Series B raise of $20 million from a diverse group of international investors and ten existing investors. Pyypl is considering opening a second tranche for further investment due to interest from investors.

Since its inception in 2017, Pyypl has raised almost $40 million, and the Series B raise will enable the Company to further expand its reach across the MEA region. Product development will also be a key focus, with Pyypl 2.0 building out new features of the company’s proprietary technology platform to enhance user experience and facilitate scaling in current and new markets.

Led by an experienced management team with a proven track record in the region, Pyypl is one of the fastest-growing FinTechs in MEA. It has already seen good traction since its Series A just a year ago, growing over four times in terms of user numbers, transaction volumes and revenues.

Pyypl has established key partnerships that have taken years to develop in order to be part of a financial ecosystem required to meet demand. These include Visa, a number of payment gateway partners, Ripple and Binance to name a few.  Based in Hub71, Abu Dhabi’s global tech ecosystem, Pyypl is gaining access to its network of partners, and benefiting from its business-friendly environment and strong talent base.

Antti Arponen, co-founder and CEO of Pyypl, commented, “We welcome our new investors and appreciate the further investment from our existing shareholders in support of our financial inclusion journey. We have grown significantly since our Series A round and are excited to enter the next phase of growth and capability. This is just the beginning.”