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
Swedish Court Reschedules Publication of Judgment in PriceRunner Vs Google Antitrust Case3.6.2026 10:34:00 CEST | Press release
Klarna provides investor update Klarna Group plc (NYSE: KLAR) wishes to update investors that the Patent and Market Court in Stockholm, Sweden (Patent- och marknadsdomstolen) has postponed publication of its judgment in the antitrust damages proceedings brought by PriceRunner, a Klarna subsidiary, against Google. The Court has rescheduled publication of its judgment from 10 June to 26 June, 2026 at 11:00 CET. Important Notice The outcome of the proceedings is inherently uncertain. No assurance can be given that PriceRunner will succeed on liability or quantum. Any award would be subject to appeal by Google, to sharing arrangements with former PriceRunner shareholders and Klarna’s litigation funder, and to applicable taxation. The dollar amount of the claim should not be taken as an indication of any likely recovery. This announcement does not constitute a profit forecast. Forward-Looking Statements This press release contains forward-looking statements within the meaning of applicable
Counterfeit Cigarettes Drive EU Illicit Market Above 10% for First Time Since 20143.6.2026 10:00:00 CEST | Press release
Illicit cigarettes reached 10.3% of EU consumption in 2025 (41.8 billion), with an estimated €16.7 billion in lost tax revenuesCounterfeits now lead the illicit market - accounting for 44% of EU illicit consumption (18.3 billion), up sharply year-on-year and displacing traditional East-to-West contraband flowsWestern Europe has the highest levels of illicit consumption, with France (41.4%), Belgium (24.8%), and the Netherlands (22.1%) among the most impacted. In France alone, counterfeit volumes reached nearly 10 billion cigarettes A new study detailing the scale of the illicit cigarette trade in the European Union (EU) shows that consumption of black-market cigarettes rose more than 7% year-on-year in 2025, reaching levels not seen in over a decade, with counterfeit cigarettes playing an increasingly significant role across member states. Philip Morris International (PMI) (NYSE: PM) reiterates its call for a coordinated response to illicit trade in Europe, built on evidence-based regu
Veth Propulsion by Twin Disc Unveiled New Streamline‑CRP™ at Maritime Industry Event3.6.2026 10:00:00 CEST | Press release
Product Reveal Took Place on June 2 Veth Propulsion by Twin Disc, a global leader in marine propulsion and maneuvering solutions, unveiled a new addition to its portfolio at Maritime Industry, a leading inland shipping tradeshow in the Netherlands, on June 2. Attendees experienced the debut firsthand. The new product, Streamline‑CRP™, is a major step forward in contra‑rotating propulsion technology. It was developed to meet the demand for higher efficiency, reduced emissions and better onboard comfort. It is purpose‑built for passenger cruise vessels and ferries. Streamline‑CRP delivers superior hydrodynamic performance, even in demanding, shallow‑water conditions. Streamline‑CRP is a next-generation azimuth thruster. It builds on Veth Propulsion’s long experience designing and making advanced propulsion systems. “Customers across the marine industry are demanding solutions that deliver both performance and efficiency,” said Bastiaan van Zuijlekom, Managing Director of Veth Propulsion.
Live Story Expands Into Europe’s Most Innovation-Driven Markets Amid Growing Demand for Agile Digital Experiences3.6.2026 10:00:00 CEST | Press release
Live Story, a no-code Frontend Creative Platform, is accelerating its international expansion with a strategic focus on the United Kingdom, Ireland, and the Nordics, following strong growth across its domestic markets in Italy and Switzerland, where the company doubled its ARR (Annual Recurring Revenues) in the first half of the year compared to the end of 2025. The platform enables brands to design, manage, and publish enterprise-grade digital experiences independently from development timelines, dramatically reducing time-to-market through a new “design-to-market” approach. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260603844284/en/ Live Story is a Milan-based no-code frontend creative platform The expansion reflects a strong alignment between Live Story’s vision and some of Europe’s most innovation-driven markets. The UK, Ireland, and Nordics are home to globally recognised fashion, lifestyle, and consumer brands, as
Coolbrook Appoints Veli-Matti Mattila as Chairman to Support the Next Phase of Industrial Scale-Up3.6.2026 08:00:00 CEST | Press release
Coolbrook, a transformational technology company dedicated to decarbonising heavy industry and industrial processes, has appointed renowned Finnish business leader Veli-Matti Mattila as Chairman of the Board effective immediately. Mattila brings decades of international leadership experience and board expertise to support Coolbrook’s next phase of commercial growth, industrial execution, and global scale-up. Veli-Matti Mattila is one of Finland’s most experienced technology business leaders, having served as CEO of Elisa Corporation from 2003 to 2024, following a long international career at Ericsson, where he held several senior leadership roles, including President of Ericsson Finland and COO & Deputy Head of Market Unit, Nordic & Baltic. He also spent four years in the U.S. and a period of time in Switzerland during his stint at Ericsson. He currently serves as Chairman of Orion Corporation and Enento Group, and has previously chaired Confederation of Finnish Industries (EK) and has
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