LONDON–(BUSINESS WIRE)–World Processing Companies (“GPS”), the main world cost know-how platform, at this time introduced it has raised over US$300 million from Creation Worldwide (“Creation”) and Viking World Buyers (“Viking”), who will co-control the corporate. The funding by Creation might be funded by means of Creation Tech and Sunley Home Capital, an affiliate of Creation.
GPS’ API-first cost know-how platform permits revolutionary card programmes for the world’s main fintechs, digital challenger banks and embedded finance suppliers. Its platform has helped scale a number of unicorns and powers an enormous array of outstanding fintechs throughout Europe, Asia-Pacific, and the Center East, together with Revolut, Curve, Starling Financial institution, Zilch, WeLab Financial institution and Paidy. By a single unified code base, GPS permits its prospects and companions to launch and scale card programmes throughout 48 international locations, supported by integrations with over 95 issuers. Thus far, it has issued over 190 million bodily and digital playing cards, and final 12 months processed greater than 1.3 billion transactions on its cloud-based platform.
“GPS supplies key funds know-how infrastructure, enabling the worldwide fintech revolution. Their agile, resilient and fashionable cloud platform drives among the most revolutionary use instances and permits fintechs to globalise by means of a single API,” commented Peter James, Director at Creation Worldwide.
“By their customer-centric innovation, GPS has quietly established a number one place in key markets all over the world with a lovely, diversified and world buyer base. Along with Viking, we stay up for supporting GPS’ management crew to broaden the enterprise’s product providing and speed up its worldwide attain.”
“We’re delighted to associate with Creation and Viking, with their deep expertise and monitor report in funds and fintech, and, who share our daring imaginative and prescient for the following era of world funds,” stated Joanne Dewar, Chief Govt Officer at GPS.
“GPS has been on the coronary heart of the worldwide fintech explosion, simplifying entry to the worldwide rails of the brand new digital funds period. This funding will permit us to turbo cost our geographic footprint and product enlargement plans as we drive the funds ecosystem in the important thing verticals of at this time and tomorrow, together with digital banking, Purchase Now Pay Later, B2B digital playing cards, monetary empowerment, and rather more.”
Creation has a powerful monitor report within the progress of companies throughout the cost and software program industries, together with a current funding in Planet, the worldwide built-in funds chief, and Dock, the Latin American monetary know-how infrastructure supplier the place Creation’s affiliate, Sunley Home Capital, co-invested alongside Viking. Worldwide since 2008, Creation has invested ~US$5 billion throughout 12 funds platform firms.
Viking has an extended historical past investing in funds and software program, throughout each the personal and public markets. Viking is investing in GPS out of its personal fairness autos, which presently handle over $17 billion. Current funds investments embrace Dock, the Latin American monetary know-how infrastructure supplier the place it co-invested alongside Creation, and Clip, the Mexican digital funds and commerce platform.
The transaction might be topic to customary closing situations.
About World Processing Companies (GPS)
World Processing Companies (GPS) is the trusted and confirmed go-to funds processing associate for at this time’s main fintechs, together with Revolut, Curve, Starling Financial institution, Zilch, WeLab Financial institution and Paidy. GPS has to-date issued over 190 million bodily and digital playing cards, enabled in over 48 international locations, and final 12 months processed over 1.3 billion transactions on its API-first cloud-based platform.
GPS’ extremely versatile and configurable platform locations the management firmly within the fingers of world fintechs, digital banks, and embedded finance suppliers, enabling them to ship wealthy performance to the cardholder. It’s a multi-award-winning issuer processor powering subsequent era cost segments, together with expense administration, B2B funds, crypto, lending and credit score (together with Purchase Now Pay Later propositions), digital banking, FX, remittance, open banking and extra.
GPS is licensed by Visa and Mastercard to course of and handle any credit score, debit or pay as you go card transaction globally, with workplaces in London, Newcastle, Singapore, Sydney and Dubai. Its platform is supplied to fulfill the stringent requirements required by Tier 1 banks, integrating with 95 issuer companions and operates programmes for a consumer base throughout the globe.
Firm highlights from the final two years embrace:
- Enlargement into Asia-Pacific by means of establishing a brand new regional centre of excellence in Singapore alongside a hub in Sydney, with a fast-growing buyer base together with WeLab Financial institution, the primary homegrown digital financial institution in Hong Kong, and Paidy, the most important Purchase Now Pay Later participant in Japan.
- Secured strategic funding from Visa, a long-term associate of GPS, and established a brand new regional centre of excellence in United Arab Emirates (UAE) having been chosen as certainly one of its most popular issuer processors in Asia-Pacific and the MENA area.
Web site: www.globalprocessing.com
LinkedIn: World Processing Companies | LinkedIn
About Creation Worldwide
Based in 1984, Creation Worldwide is among the largest and most skilled world personal fairness traders. The agency has invested in over 380 personal fairness investments throughout 42 international locations, and as of June 30, 2021, had €68 billion in belongings below administration. With 15 workplaces in 12 international locations, Creation has established a globally built-in crew of over 245 personal fairness funding professionals throughout North America, Europe, Latin America and Asia. The agency focuses on investments in 5 core sectors, together with enterprise and monetary companies; well being care; industrial; retail, client and leisure; and know-how. After 35 years devoted to worldwide investing, Creation stays dedicated to partnering with administration groups to ship sustained income and earnings progress for its portfolio firms. For extra info, go to:
Web site: www.adventinternational.com
About Viking World Buyers LP
Based in 1999, Viking is a worldwide funding administration agency that manages roughly $48 billion of capital for its traders. It has workplaces in Greenwich, New York, Hong Kong, London, and San Francisco and is registered as an funding adviser with the U.S. Securities and Alternate Fee. For extra info, please go to www.vikingglobal.com.