Global Processing Services Secures Extra $100 Million Investment

(Bloomberg) -- Global Processing Services has raised an additional $100 million from Singapore state-owned investor Temasek Holdings Pte. and growth equity fund MissionOG.

That means the startup’s latest fundraising round has topped $400 million, it said in a statement Thursday. GPS’s payments processing platform, which is used by fintechs including Revolut, Curve and Starling Bank, last year handled more than 1.3 billion transactions.

The U.K. firm previously raised more than $300 million from Advent International and Viking Global Investors in October.

“The expertise that our new partners bring to GPS will be invaluable as we enter our next phase of geographic expansion and technology innovation,” Chief Executive Officer Joanne Dewar said in the statement, which also said Gene Lockhart, general partner of Philadelphia-based MissionOG, has been appointed chairman of GPS. 

Details of the upsized investment come in the same week that Checkout.com, another payments company, said its valuation almost tripled to $40 billion in its latest funding round. 

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