Miguel Cordon · · 1 min readTemasek backs $400m round of global payments firm
Global Processing Services (GPS) said it has closed an over US$400 million round, which saw participation from Temasek. MissionOG, and Viking Global Investors. Advent International also joined the round via its Advent Tech fund and affiliate Sunley House Capital.
The Global Processing Services team / Image credit: GPS
Based in the UK, GPS is a payments tech platform that provides payment processing solutions to fintech firms, digital challenger banks, and embedded finance providers. It has helped design, deploy, and manage card programs across 48 countries so far.
Since the company was founded in 2007 by Craig Dewar, who currently serves as a director, it has onboarded clients such as Revolut, Curve, Starling Bank, Zilch, WeLab Bank, and Paidy.
GPS, which is helmed by CEO Joanne Dewar, launched its Asia Pacific hub in 2019 in Singapore, as more than 40% of all Southeast Asian fintech firms base their operations in the city-state.
The company said it will use the new capital to accelerate growth, expand across Europe, Asia Pacific, Middle East, and North Africa. GPS has also named Gene Lockhart, chair and general partner of MissionOG, as its new chair.
See Also: 50 rising startups in Singapore
Editing by Collin Furtado and Eileen C. Ang
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