Global Processing Services raises US$100M

Global Processing Services has raised $100 million in funding, demonstrating not only how popular embedded finance is as a business, but also GPS’s presence in the space.

Temasek, a Singaporean investor, and MissionOG, a US corporation, are the two investors in this latest round of funding, which is an extension of a $300 million investment that GPS announced in October 2021, bringing the total round to $400 million.

That earlier transaction was co-led by Advent International and Viking Global Investors, giving them a majority share in GPS. Visa is one of the company’s other investors. GPS, which is based in London, England, is not announcing its valuation today, as it was in the early part of the round.

“This is not something on which we wish to be drawn, but what we can say is that we continue to aspire to be one of the largest paytech companies in the world, mirroring the success of providers on the acquiring side of payments, such as Adyen, Stripe and Checkout.com, and Marqeta on the issuing side,” said a spokesperson in response to the valuation question.