Payment Technology Platform GPS Secures $300 Million

Global Processing Services (GPS), the leading global payment technology platform, yesterday announced it has secured over US$300 million from Advent International (Advent) and Viking Global Investors (Viking), who will co-control the company. 

GPS' API-first payment technology platform enables innovative card programmes for the world's leading fintechs, digital challenger banks and embedded finance providers. Its platform has helped scale multiple unicorns and powers a vast array of prominent 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 customers and partners to launch and scale card programmes across 48 countries, supported by integrations with over 95 issuers. To date, it has issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions on its cloud-based platform.

"GPS provides key payments technology infrastructure, enabling the global fintech revolution. Their agile, resilient and modern cloud platform drives some of the most innovative use cases and allows fintechs to globalise through a single API," commented Peter James, Director at Advent International.

"We are delighted to partner with Advent and Viking, with their deep experience and track record in payments and fintech, and, who share our bold vision for the next generation of global payments," said Joanne Dewar, Chief Executive Officer at GPS.