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Global Processing Service (t / a GPS) Secures £ 300 Million Private Equity Investment from Temasek and Mission OG – UK Tech Investment News

Global processing services will grow to over US $ 400 million with the participation of new investors to accelerate investment in next-generation payment technologies

Appoint veteran payment executive as new chairman of the board

  • With lead investments from Advent International and Viking Global, with the participation of Temasek and MissionOG, the company will expand its funding round by approximately US $ 100 million.
  • Gene Lockhart, former CEO and President of MasterCard International, has been appointed chairman
  • Companies investing heavily in cutting-edge technology to boost next-generation payments
  • Expand business to Europe, Asia Pacific, Middle East and North Africa
  • GPS report records 2021 revenue and throughput

London, January 13, 2022 – – Global processing service (“GPS”), the world’s leading payment technology platform, today announced that it will end and expand its latest funding for over US $ 400 million. Temasek A global investment company headquartered in Singapore, and MissionOGA US-based growth equity firm, has participated in an initial round of over US $ 300 million co-led by growth investors. Advent International – Through Advent Tech and its affiliate Sunley House Capital – and Viking Global Investors..

GPS Is an API-first payment technology platform that enables innovative card programs for world-leading FinTech, Digital Challenger Banks and embedded financial providers. GPS technology and partnership approaches have helped scale the world’s most successful and destructive fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy.

Through GPS’s next-generation cloud platform, its customers and partners can design, launch, manage and scale card programs in 48 countries. To date, GPS has issued over 190 million physical and virtual cards, processed over 1.3 billion transactions last year and generated record revenue.

Additional investment and strategic support from new investors aims to further accelerate GPS’s growth trajectory. The company plans to leverage its reputable reputation and innovative technology platform to meet customer demand by expanding internationally across Europe, APAC and MENA and accelerating new product and technology development. I am. New investors joining Advent and Viking bring deep fintech and payment expertise globally.

GPS board reinforced with new chair

Upon completion of the investment, Mission OG Chair and General Partner Gene Lockhart was appointed as the new GPS Chair.

An experienced investor, skilled senior management, and respected payment innovator, Jean has significant investment and investment experience across the financial services and payments industry. Gene’s previous leadership roles include serving as President and Chief Executive Officer of MasterCard International and a board member of companies such as NuBank and First Republic Bank.

GeneLockhart, GPS chair, said:

“GPS is an innovative technology company and we are confident that it is ideally positioned to enhance next-generation financial services with its unique position at the heart of the global payment ecosystem. With our network and experience, we look forward to becoming a trusted and valuable partner for Joanne and the entire team. “

Joanne Dewar, Chief Executive Officer of GPS, said:

“Upsizing this latest investment round is an important step forward for the company and strongly supports our strategy. We are driven by our commitment to innovation and the provision of a single scalable technology platform. It has been a fast-growing company in recent years. The expertise that new partners bring to GPS is invaluable as it enters the next phase of geographic expansion and innovation. “

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Media contacts:

Sumeet Vermani / Louisa Bartoszek

[email protected]

Note to the editor:

About Global Positioning Service (GPS)

Global processing service (GPS) is a reliable and proven payment processing partner for today’s leading fintechs such as Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. GPS issues millions of physical and virtual cards enabled in more than 48 countries and processes billions of transactions on an API-first cloud-based platform. GPS’s highly flexible and configurable platform puts control firmly in the hands of global fintech, digital banks, and embedded financial providers, enabling cardholders to provide rich capabilities. It has won numerous awards to enhance next-generation payment segments such as expense management, B2B payments, encryption, lending and credit (including postpay (“BNPL”) proposals), digital banking, FX, remittances and open. Award-winning publisher processor. Banks, etc. With offices in London, Newcastle, Singapore, Sydney and Dubai, GPS is certified by Visa and Mastercard to process and manage credit, debit and prepaid card transactions globally. The platform is equipped to meet the stringent standards required by Tier 1 banks, integrates with over 95 issuing partners and operates programs for a global client base.

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 company has invested in more than 380 private equity investments in 42 countries and had $ 86 billion in assets under management as of September 30, 2021. Advent has established a globally integrated team of over 250 private equity investment professionals in North America, Europe, Latin America and Asia with 15 offices in 12 countries. The company focuses on investing in five core sectors, including business and financial services. Health care; industrial; retail, consumer, leisure. And technology. For over 35 years, Advent has been dedicated to international investment and continues to work with management to bring sustainable revenue and profit growth to portfolio companies.

For more information, please 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 company that manages approximately $ 48 billion in capital for investors. With offices in Greenwich, New York, Hong Kong, London and San Francisco, he is a registered investment adviser to the US Securities and Exchange Commission. For more information, please visit: www.vikingglobal.com.

About Temasek

Temasek is a global investment company with a net portfolio value of S $ 381 billion (£ 206 billion) as of March 31, 2021. Headquartered in Singapore, it has 13 offices in 9 countries around the world. The Temasek Charter defines the three roles of Temasek as investors, institutional investors, and stewards. These roles shape the spirit of doing good, doing right, and doing good. As a catalyst capital provider, we aim to enable solutions to major global challenges. With all the core sustainability of Temasek, we seize investable opportunities to bring a sustainable future to everyone and proactively provide sustainable solutions to address current and future challenges. I’m looking for it. For more information on Temasek, please visit: www.temasek.com.sg..

About Mission OG
Founded in 2012, Mission OG partners with high-growth companies that have demonstrated their models in successful operators and investors in financial services, payments, data platforms, software and more. We apply our experience and abilities to a group of highly skilled and passionate entrepreneurs whose businesses are at the forefront of exponential growth. The company is run by businesses and investors who have effectively built a growing business from the beginning and led to a successful acquisition. Mission OG is headquartered in Philadelphia. For more information, please visit: www.missionog.com..

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Global Processing Service (t / a GPS) Secures £ 300 Million Private Equity Investment from Temasek and Mission OG – UK Tech Investment News

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