PPRO acquires Alpha Fintech to become “global payments powerhouse”
UK-based paytech PPRO has acquired fellow payments company Alpha Fintech, which is based in Melbourne, Australia.
PPRO says the acquisition, which it describes as “a game-changing deal”, will extend its reach to Asia Pacific and enable it “to offer a plug-and-play orchestration layer that will let its customers integrate products and services faster and at scale”.
The deal follows last year’s $270 million funding round which saw PPRO achieve unicorn status.
The company says it’s “on a mission to become a global payments powerhouse”.
The terms of the deal were not disclosed. The transaction is expected to close in Q1 2022.
Founded in 2011, Alpha Fintech claims to offer “the world’s first solution that consolidates payment, risk and transaction into one visible and user-friendly platform”.
Its cloud-based platform connects merchant buyers and vendor suppliers across the full payment lifecycle, including payment processing, merchant management, risk management, fraud prevention and data analytics.
Among its clients are BNZ (one of New Zealand’s “big four” banks) and Southeast Asia’s super-app Grab.
The company employs 90 people, based primarily in Australia and Argentina as well as in the US and Singapore. They will now join the PPRO team.
Oliver Rajic, CEO of Alpha Fintech, says PPRO’s “reach, reputation and standing” has made it the perfect partner to “shake up and democratise payments”.
PPRO was founded in 2006. It provides payments infrastructure, including local payment methods, to payment service providers, enterprises and banks. It is regulated in the UK by the Financial Conduct Authority (FCA), and in Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF). Its clients include Alipay, Citi, PayPal, Stripe and Worldpay.