July 17, 2018
As e-commerce in developed markets begins to mature, companies are increasingly looking outside their national borders for new sources of revenue. Consequently, partnerships with payment providers that can navigate unfamiliar payment environments are vital. PPRO, a London-based company that enables businesses engaged in cross-border e-commerce to accept local payment methods, is just such a business. And today, it closed on a $50 million funding round led by PayPal.
PPRO partners with PSPs, acquirers and financial institutions around the world enabling them to connect their merchant clients with the appropriate local online payment methods in various markets. The company said the cash infusion from PayPal—with participation from Citi Ventures and HPE Growth Capital—will accelerate international expansion. PPRO opened its first U.S. office last October in Atlanta.
“A merchant’s choice of payments partner is increasingly being driven by the ever-expanding range of locally relevant payment methods available,” said Arnold Goldberg, vice president of merchant product and technology for PayPal. “PayPal is pleased to support PPRO as the company continues to grow.”