The local payments network PPRO has finished raising €85 million (US$92.8 million) in two tranches of finance.

With this capital, the fintech hopes to expand into important areas and improve its worldwide network of regional payment options.

PPRO has received new money from both new and existing investors, including funds managed and backed by BlackRock, Eurazeo, HPE Growth, Sprints, PayPal Ventures, JPMorgan, and Citi Ventures.

PPRO: Increasing growth in strategic areas
In fact, PPRO's most recent fundraising comes after it set a record for revenue in 2023, and it is now aiming to build on that achievement to achieve even more growth.

"We are seeing strong demand, and this infusion of capital represents a real vote of confidence in PPRO's growth prospects. It validates our focus on helping customers access new markets by creating seamless local payment experiences," says Rahul Raswant, Chief Financial Officer of PPRO.

Established in 2006, the fintech company located in the UK is committed to providing customers with local payment options via its integrated platform.

PPRO has contributed to the prosperity of its top investors over the years by giving companies like PayPal and Citi access to cross-border payment solutions.

Following a US$180 million investment surge, the company achieved unicorn status in 2021, which caused its growth to soar. PPRO will now aim to keep moving forward.

"PPRO has distinguished itself as a leader in the payments industry and is at the forefront of enabling businesses to sell goods and services to anyone in the world using their preferred method of payment," says Anne-Charlotte Philbert, Managing Director of Growth at lead investor Eurazeo.

"The company is well on its way to being profitable, combining unique technology, strong financial performance, and an outstanding management team.

"We are more excited than ever to keep supporting PPRO's goal of making local payment methods more accessible."

Naturally, as real-time payments (RTP) have grown, so too have cross-border payment networks; in fact, regulated RTP networks, such as the FedNow service offered by the US Federal Reserve, have helped to foster a new culture of local, instantaneous payment networks.

Jefferson Bank and Finastra recently joined to deliver RTP services, such as FedNow and RTP The Clearing House.

PPRO now hopes to expand its market reach while scaling its own alliances.

"Since our first investment in 2018, PPRO has grown its market reach and prominence in the constantly evolving payments space," says James Loftus, Managing Partner at PayPal Ventures.

"PayPal is glad to be a part of PPRO's journey and values our partnership with them."