PPRO, a company that handles e-commerce payments, has finished raising €85 million in two tranches of funding.
PPRO, a company that handles e-commerce payments, has finished raising €85 million in two tranches of funding.
Both new and returning investors, such as Eurazeo, HPE Growth, Sprints, PayPal Ventures, JPMorgan, Citi Ventures, and funds administered by BlackRock, have contributed to the fundraising.
PPRO reported £56 million in revenue and £19.4 million in losses for the 12 months ending December 31, 2022, in the company's most recent financial records, which were released.
CFO Rahul Raswant states, "PPRO had a stellar 2023, delivering record revenue." "This capital infusion represents a real vote of confidence in PPRO's growth prospects, and the strong demand we're seeing validates our focus on helping customers access new markets by creating seamless local payment experiences."
According to him, the company would use the additional funding to expand into important regions and improve its extensive worldwide network of local payment options.
"Since our first investment in 2018, PPRO has grown its market reach and prominence in the constantly evolving payments space," remarks PayPal Ventures managing partner James Loftus. "PayPal is glad to be a part of PPRO's journey and values our partnership with them."
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