Global Processing Services (better known simply as ‘GPS’), the UK-based payment technology platform powering neobanks like Revolut, Curve, Starling Bank and Zilch, has bagged more than $300 million in a funding round from Advent International and Viking, who will henceforth “co-control” the company.
GPS’ API-first, cloud-based payment platform enables card programmes for fintech companies across Europe, Asia-Pacific, and the Middle East, helping them scale across 48 countries in total.
To date, GPS claims to have issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions on its platform.
“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, GPS’ CEO.
“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,” she added.