Global Processing Services extends recent fundraise by over $100m

Global Processing Services (GPS) has extended its recent $300m investment round, which now sits at more than $400m.

The fresh investment was supplied by Singapore-headquartered investment firm Temasek and US-based growth equity firm MissionOG. It comes just months after Global Processing Services initially secured $300m in a round co-led by Advent International and Viking Global Investors.

With the help of the fresh investment, GPS hopes it can continue its growth trajectory. This will include expanding across Europe, APAC and MENA, and further its product and technology developments.

GPS is an API-first payment technology platform that enables innovative card programmes for FinTechs, digital challenger banks and embedded finance providers, including Revolut, Curve, Zilch, Starling Bank, Paidy and more.

To date, the company has issued more than 190 million physical and virtual cards and last year it processed over 1.3 billion transactions.

GPS Chair Gene Lockhart 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.”

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