PPRO acquires LatAm paytech, Allpago
The financial details of the deal have not been disclosed.
The acquisition follows PPRO’s recent expansion into Asia-Pacific and North America. It is part of PPRO’s strategy to become a global platform with direct integrations into all major local payment methods (LPM) worldwide.
“We have seen an increasing demand for the integration of Latin American LPMs and this deal will provide our customers with access to local payments, worldwide through one contract and one integration,” says PPRO CEO, Simon Black.
Philipp Bock, Allpago CEO and co-founder, adds: “Latin America’s economy is one of the most exciting emerging regions in the world. 156 million people are expected to buy goods and services worth $80 billion online by the end of 2019. It is a part of the world that holds huge potential for PPRO to build a thriving presence.”
Bock will become a PPRO shareholder and the combined business will have a staff of more than 200 people.