GPS
13.10.2021 11:38:12 CEST | Business Wire | Press release
Global Processing Services (“GPS”), the leading global payment technology platform, today announced it has raised over US$300 million from Advent International (“Advent”) and Viking Global Investors (“Viking”), who will co-control the company. The investment by Advent will be funded through Advent Tech and Sunley House Capital, an affiliate of Advent.
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.
“Through their customer-centric innovation, GPS has quietly established a leading position in key markets around the world with an attractive, diversified and global customer base. Together with Viking, we look forward to supporting GPS’ leadership team to expand the business’s product offering and accelerate its international reach.”
“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.
“GPS has been at the heart of the global fintech explosion, simplifying access to the global rails of the new digital payments era. This investment will allow us to turbo charge our geographic footprint and product expansion plans as we drive the payments ecosystem in the key verticals of today and tomorrow, including digital banking, Buy Now Pay Later, B2B virtual cards, financial empowerment, and much more.”
Advent has a strong track record in the growth of businesses across the payment and software industries, including a recent investment in Planet, the global integrated payments leader, and Dock, the Latin American financial technology infrastructure provider where Advent’s affiliate, Sunley House Capital, co-invested alongside Viking. Worldwide since 2008, Advent has invested ~US$5 billion across 12 payments platform companies.
Viking has a long history investing in payments and software, across both the private and public markets. Viking is investing in GPS out of its private equity vehicles, which currently manage over $17 billion. Recent payments investments include Dock, the Latin American financial technology infrastructure provider where it co-invested alongside Advent, and Clip, the Mexican digital payments and commerce platform.
The transaction will be subject to customary closing conditions.
-ends-
About Global Processing Services (GPS)
Global Processing Services (GPS) is the trusted and proven go-to payments processing partner for today’s leading fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. GPS has to-date issued over 190 million physical and virtual cards, enabled in over 48 countries, and last year processed over 1.3 billion transactions on its API-first cloud-based platform.
GPS’ highly flexible and configurable platform places the control firmly in the hands of global fintechs, digital banks, and embedded finance providers, enabling them to deliver rich functionality to the cardholder. It is a multi-award-winning issuer processor powering next generation payment segments, including expense management, B2B payments, crypto, lending and credit (including Buy Now Pay Later propositions), digital banking, FX, remittance, open banking and more.
GPS is certified by Visa and Mastercard to process and manage any credit, debit or prepaid card transaction globally, with offices in London, Newcastle, Singapore, Sydney and Dubai. Its platform is equipped to meet the stringent standards required by Tier 1 banks, integrating with 95 issuer partners and operates programmes for a client base across the globe.
Company highlights from the last two years include:
- Expansion into Asia-Pacific through establishing a new regional centre of excellence in Singapore alongside a hub in Sydney, with a fast-growing customer base including WeLab Bank, the first homegrown virtual bank in Hong Kong, and Paidy, the largest Buy Now Pay Later player in Japan.
- Secured strategic investment from Visa , a long-term partner of GPS, and established a new regional centre of excellence in United Arab Emirates (UAE) having been selected as one of its preferred issuer processors in Asia-Pacific and the MENA region .
Website: www.globalprocessing.com
LinkedIn: Global Processing Services | LinkedIn
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 private equity investments across 42 countries, and as of June 30, 2021, had €68 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international
About Viking Global Investors LP
Founded in 1999, Viking is a global investment management firm that manages approximately $48 billion of capital for its investors. It has offices in Greenwich, New York, Hong Kong, London, and San Francisco and is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, please visit www.vikingglobal.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005519/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Medimaps Group and Radiobotics Announce Strategic Merger to Expand AI-Driven Musculoskeletal Imaging Portfolio2.3.2026 09:00:00 CET | Press release
Radiobotics to join Medimaps Group, creating a global provider of AI-driven musculoskeletal (MSK) medical imaging software The transaction is expected to close following receipt of Danish foreign direct investment (FDI) approval and other customary closing conditions Together, they will bridge the gap between preventative bone health and acute trauma diagnostics, offering an expanded portfolio across X-ray and DXA: Fracture detection, opportunistic bone fragility assessment, and fracture risk prediction The combined entity will have a commercial reach in 90 countries through a robust network of direct and partner channels Both organizations will maintain their established brands, supported by close R&D and commercial collaboration Medimaps Group S.A., a global leader in AI-driven bone microarchitecture imaging solutions, and Radiobotics ApS, a leader in AI-powered MSK radiology solutions, today announced that they have entered into a strategic merger agreement. Closing of the transacti
Takeda and Protagonist Announce U.S. Food and Drug Administration Accepts New Drug Application and Grants Priority Review for Rusfertide as a Potential First-in-Class Therapy for Polycythemia Vera2.3.2026 08:00:00 CET | Press release
Rusfertide Demonstrated Significant Improvements in Hematocrit Control, Phlebotomy Reduction and Patient Reported Outcomes for Patients with Polycythemia Vera in a Pivotal StudySubmission Primarily Based on Phase 3 VERIFY Study, in Which Rusfertide Plus Standard of Care More Than Doubled Clinical Response Rates, as Well as Four-Year Efficacy and Safety Data from Phase 2 REVIVE/THRIVE StudiesPrescription Drug User Fee Act (PDUFA) Target Action Date is in the Third Quarter of this Calendar Year Takeda (TSE:4502/NYSE:TAK) and Protagonist Therapeutics, Inc. (“Protagonist”) (NASDAQ:PTGX) today announced that the U.S. Food and Drug Administration (FDA) accepted the New Drug Application (NDA) and granted Priority Review for rusfertide. Rusfertide is an investigational, first-in-class hepcidin mimetic peptide therapeutic for the treatment of adults with polycythemia vera (PV). The FDA has set a Prescription Drug User Fee Act (PDUFA) goal date in the third quarter of this calendar year. In addi
Quectel Expands Mid-tier 5G Portfolio with New RedCap 3GPP Release 17 Variants2.3.2026 08:00:00 CET | Press release
Quectel Wireless Solutions, a global end-to-end IoT solutions provider, today announces the expansion of its 5G RedCap portfolio with the launch of the RM255C-GL for global markets and the RG255C-NA for the North America market, further strengthening its mid-tier 5G offering for worldwide deployments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260301754857/en/ Quectel expands mid-tier 5G portfolio with new RedCap 3GPP release 17 variants As 5G expands further into industrial and IoT domains, the need for solutions that combine strong performance with cost efficiency is becoming increasingly critical. Positioned between high-speed eMBB and narrowband NB-IoT, 5G RedCap (Reduced Capability) has emerged as the ideal technology to address this mid-tier connectivity gap. With a comprehensive product portfolio and global deployment expertise, Quectel enables a seamless transition for mid-speed IoT applications moving toward sca
Thales sets a world first in quantum-safe security for 5G networks2.3.2026 08:00:00 CET | Press release
Thales has successfully demonstrated a world-first innovation that prepares 5G networks for the age of quantum computing, marking a major milestone for the global telecommunications industry. The collaboration with a top tier mobile operator, showed that existing 5G SIM / eSIM cards already deployed in the field can be securely upgraded to quantum-safe protection, without disrupting service or impacting the customer experience. This Post-Quantum Cryptographic (PQC) breakthrough proves that mobile networks can evolve their security through crypto agility to address quantum cyber threats. Quantum computing has the potential to break today’s encryption methods in the future, putting mobile communications, personal data and critical infrastructure at risk. For telecom operators, this is not a distant theoretical issue: 5G networks underpin everything from smartphones and connected vehicles to emergency services, industry and national infrastructure. This press release features multimedia.
NHOA Energy Announces Two Major MACSE Battery Projects2.3.2026 08:00:00 CET | Press release
The projects reinforce NHOA Energy’s leadership in the Italian market NHOA Energy, global provider of utility-scale energy storage systems, has been awarded two new Battery Energy Storage System (BESS) projects in Italy by a leading independent platform in the renewables and energy transition sector, with a total MACSE-contracted capacity of about 600 MWh and a total power of 90 MW. The two projects, located in Campania and Sardinia, represent NHOA Energy’s first systems awarded under MACSE (Meccanismo di Approvvigionamento di Capacità di Stoccaggio Elettrico), Italy’s new capacity mechanism dedicated to long-duration storage, and a milestone in the company’s growth in the national energy storage market. The projects, financed by a pool of top-tier Italian and international financial institutions, reaffirm NHOA Energy’s centrality as technology supplier and turnkey contractor in the Italian BESS market, built on extensive local and international experience, breadth of resources, intima
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom