London-based International Api-first Payment Technology Platform Gps Secures $300m Funding
Select a Data Access Level and Duration to determine on how we use and share your knowledge. The different thing that impressed me was the variety of apps the staff had labored on and the amount it could pull from. I solely discovered about the new service when it launched, but there are 300m of apps, and the team can pull from all of them, so I’m certain there’s plenty more that I didn’t learn about. One of the things that actually impressed me concerning the new service is that it’s totally open supply. The entire idea was to have the entire service obtainable in beta and then be open sourcing the details once it was ready. The service might help you to construct an app that helps folks, but it’s additionally helpful for builders to get in on the fun.
Through GPS’ next technology cloud platform, its clients and partners can design, launch, handle and scale card programmes across forty eight nations. To date, GPS has issued over one hundred ninety million bodily and virtual playing cards, and last yr processed more than 1.3 billion transactions, producing record revenues. It is a multi-award-winning issuer processor powering subsequent era cost segments, together with expense management, B2B funds, crypto, lending and credit , digital banking, FX, remittance, open banking and extra. “We are delighted to partner with Advent and Viking, with their deep expertise and track document in payments and fintech, and, who share our bold imaginative and prescient for the following technology of worldwide funds,” mentioned Joanne Dewar, Chief Executive Officer at GPS.
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We apply our experience and capabilities to a gaggle of extremely expert and passionate entrepreneurs whose businesses are on the cusp of exponential progress. The firm is managed by operators and investors who’ve successfully built early to growth stage businesses and guided them via successful acquisitions. GPS’ API-first payment know-how platform allows innovative card programmes for fintechs, digital challenger banks and embedded finance providers. Advent International and Viking Global Investors have co-led a $300 million funding round for fee know-how specialist Global Processing Services.
Specifically, he added, the company’s information product can seize whenever a cardholder marks a transaction utilizing their cards at any location. And, its payouts product provides companies a method to put a reimbursement onto an employee’s card. It is currently powering providers for “tens of millions” of cardholders and “hundreds of thousands” of merchants globally.
Our world group contains over 285 private fairness funding professionals across 4 continents. The news comes shortly after reports that the European Commission was additionally continuing with an investigation into what can be one of the greatest tech acquisitions of all time. In the companies’ domestic U.S. market, in the meantime, the Federal Trade Commission last month progressed its investigation right into a deeper second evaluate phase, which implies that the FTC noticed enough during its initial analysis to warrant a extra in depth look.
Technology’s Trinity The excellent storm to raise your small business is already right here. Services Advent’s IT capability providers guarantee provisioning of skilled IT professionals on an ongoing foundation to supplement current consumer groups. Solutions Advent is devoted to delivering progressive, real-world solutions that enable our prospects to tackle the toughest challenges.We provide quality … Systems Advent’s deep industry and software program expertise have helped us create a pre-configured solution, on the trade’s broadest and most flexible platforms … Advent’s IT capacity services ensure provisioning of skilled IT professionals on an ongoing foundation to complement present client teams. We can present a rich mix of offshore abilities as desired, thereby creating cost effectivity and suppleness.
GPS’ API-first cost technology platform permits revolutionary card programmes for the world’s leading fintechs, digital challenger banks and embedded finance suppliers. Its platform has helped scale multiple unicorns and powers an unlimited array of outstanding fintechs across Europe, Asia-Pacific, and the Middle East, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. Through a single unified code base, GPS enables its prospects and partners to launch and scale card programmes throughout forty eight countries, supported by integrations with over 95 issuers. To date, it has issued over 190 million physical and digital cards, and final year processed more than 1.three billion transactions on its cloud-based platform. Founded in 1984, Advent International is among the largest and most experienced world non-public equity traders. The agency has invested in over 380 non-public equity investments across 42 countries, and as of September 30, 2021, had $86 billion in belongings beneath management.