Fee expertise platform World Processing Companies (GPS) introduced the closing and upsizing of its newest fundraise at over US$400 million.
World funding firm Temasek and MissionOG, a US-based progress fairness agency, joined the over US$300 million preliminary spherical, co-led by progress buyers Introduction Worldwide – by means of Introduction Tech and affiliate Sunley Home Capital – and Viking World Buyers.
The extra funding and strategic help from the brand new buyers shall be used to additional speed up GPS’ progress trajectory.
GPS additionally plans to answer buyer demand by increasing internationally throughout Europe, APAC and MENA, and speed up new product and expertise developments.
By way of GPS’ subsequent era cloud platform, its prospects and companions can design, launch, handle and scale card programmes throughout 48 international locations.
To this point, GPS has issued over 190 million bodily and digital playing cards, and final yr processed greater than 1.3 billion transactions, producing document revenues.
Concurrent with the funding closing, Gene Lockhart, Chair and Common Accomplice of MissionOG, has been named as the brand new Chair of GPS.
A seasoned investor, completed senior govt, and revered funds innovator, Gene has vital operational and funding expertise throughout the monetary companies and funds industries.
Gene’s prior management roles embody serving because the President and CEO of MasterCard Worldwide, and serving as a board member of corporations together with NuBank and First Republic Financial institution, amongst many others.
Gene Lockhart, Chair, at GPS stated,
“GPS is an modern expertise firm, and we consider their distinctive place on the coronary heart of the worldwide funds ecosystem ideally positions them to energy the following era of monetary companies.
With the deep community and expertise MissionOG brings to the desk, we stay up for being a trusted and valued companion of Joanne and all the staff.”