- Companies
- Global Processing Services
Global Processing Services Funding, Investors & Competitors
Global Processing Services has raised $458M across 3 funding rounds, most recently a $100M undisclosed-stage round in January 2022.
Last Global Processing Services funding round
$100M
Undisclosed stage · Jan 2022
Cumulative funding Global Processing Services raised
$458M
across 3 funding rounds
Key investors in Global Processing Services
Temasek
Advent International
Viking Global Investors
MissionOG
Dunedin LLP
About Global Processing Services
Global Processing Services is an issuer processing platform headquartered in Douglas on the Isle of Man, launched in 2007. The GPS Apex system handles credit, debit, and prepaid card transactions securely, integrating with program managers, card manufacturers, and networks for innovations in contactless payments and tokenization across Europe and emerging markets.
Founded
2007
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Global Processing Services Funding History
Global Processing Services has raised a total of $458M across 3 funding rounds.
Global Processing Services' first fundraising round was a $58M undisclosed-stage round in June 2018. The most recent completed round was a $100M undisclosed-stage round in January 2022.
Global Processing Services funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2022 | Undisclosed stage | MissionOG (lead); Temasek (lead) | $100M | Global Processing Services (GPS), a London-based payment technology platform, provides a cloud-based API platform for issuing and processing credit, debit, and prepaid cards across 48 countries, serving fintechs, digital banks, and embedded finance providers in segments like expense management, B2B payments, crypto, lending, BNPL, digital banking, FX, remittance, and open banking. The company had issued over 190 million physical and virtual cards and processed more than 1.3 billion transactions in 2021. Clients include Starling Bank, Revolut, Pockit, Volt Bank, Loot, Stocard, Glint, Osper, and Curve, with certifications from Mastercard and Visa. In January 2022, GPS closed an upsized funding round exceeding US$400 million, extending a prior US$300 million round from October 2021 co-led by Advent International (through Advent Tech and Sunley House Capital) and Viking Global Investors, who took a controlling stake. Temasek Holdings and MissionOG added over US$100 million in the extension, matching the specified investors and date. Funds support product development, technology investment, and expansion into Europe, Asia-Pacific, and Middle East/North Africa. Gene Lockhart, MissionOG chair and former Mastercard president/CEO, became GPS chair, bringing expertise from boards like NuBank and First Republic Bank. Previous funding included £44 million in 2018 and Visa as a strategic investor in 2020. |
| Oct 2021 | Undisclosed stage | Advent International (lead); Viking Global Investors (lead) | $300M | Global Processing Services (GPS) is an API-first payment technology platform that powers card issuing and processing for leading fintechs, digital banks, and embedded finance providers, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank, and Paidy. The company operates in over 48 countries across Europe, Asia-Pacific, and the Middle East, having issued over 190 million physical and virtual cards and processed over 1.3 billion transactions in the prior year on its cloud-based platform. GPS supports next-generation payment segments such as expense management, B2B payments, crypto, lending, credit including Buy Now Pay Later, digital banking, FX, remittance, and open banking. On October 13, 2021, GPS announced it raised over US$300 million from Advent International and Viking Global Investors to accelerate technology development, product innovation, and global customer base expansion. This investment follows a strategic investment by Visa in 2020 and leverages the deep payments and fintech expertise of the new investors. |
| Jun 2018 | Undisclosed stage | Dunedin LLP (lead) | $58M | Global Processing Services (GPS) is a UK-headquartered payments processor specializing in issuer processing for digital banks, challenger banks, fintechs, and financial institutions, powering clients like Revolut, Starling Bank, Curve, Pockit, and others with its GPS Apex platform that supports Mastercard and Visa transactions, virtual cards, mobile payments, multi-currency processing, and more. Co-founded by Tony Kerr and Craig Dewar, and led by Joanne Dewar and Suresh Vaghjiani, GPS had around 150 employees in London and Newcastle at the time of the investment. In June 2018, Dunedin LLP led a £44-75m primary buyout (MBO), investing alongside other parties, described as one of the UK's largest B2B fintech financings that year, with Dunedin Enterprise specifically investing £6.4m for an 8.2% stake. The investment aimed to fuel GPS's growth, strengthen its offerings, and expand its global footprint amid rising demand for innovative payment platforms from fintechs and traditional institutions. Dunedin highlighted GPS's high-growth, high-margin, cash-generative profile and international client expansion opportunities in the multi-billion-pound payments industry. For the year ended 31 December 2017, GPS reported turnover of £9.8m and EBITDA of £4.5m, with the deal done at a 15.0x EBITDA multiple. Dunedin, focusing on UK buyouts in business services including financial services, backed GPS as part of its £300m Fund III strategy, leveraging expertise to accelerate technology development and international growth. This followed other fintech deals like Kingsbridge and Alpha, amid a period of active transactional activity for the firm. GPS continued post-investment with strategic hires to support expansion. |
Who has invested in Global Processing Services?
5 investors have backed Global Processing Services across its funding rounds, including Temasek, Advent International, Viking Global Investors, MissionOG and Dunedin LLP.
Lead investors include MissionOG, Temasek, Advent International, Viking Global Investors and Dunedin LLP.
Global Processing Services Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Jan 2022 | ||
| 1 | Lead | Jun 2018 | ||
| 1 | Lead | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 5 Global Processing Services investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialGlobal Processing Services Competitors
Global Processing Services competitors include listed companies like ACI Worldwide, Computer Age Management Services, eFinance and Optasia, and private ones like Ant Group and Stripe.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $25B | - | $79B | 3.2x | ||
| Publicly listed | $1.8B | $456M | $5.2B | 3.1x | ||
| Publicly listed | $158M | $74M | $1.8B | 10.5x | ||
| Publicly listed | $130M | $67M | $1.6B | - | ||
| Publicly listed | $265M | $79M | $1.1B | 3.6x | ||
| Private | $6.9B | - | $159B | 23.0x |
Global Processing Services Public Comps
Global Processing Services is still privately-owned, but its public comps include Visa, Mastercard, American Express, S&P Global, Moody's, Block, PayPal, Constellation Software, Adyen and Fiserv.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $40B | $26B | 17.6x | 15.4x | 27.1x | 22.0x | |||
| $33B | $20B | 15.5x | 14.1x | 24.9x | 22.3x | |||
| $72B | - | 3.1x | 2.9x | - | - | |||
| $15B | $7.7B | 8.9x | 9.1x | 17.6x | 17.3x | |||
| $7.7B | $3.8B | 11.2x | 10.6x | 22.5x | 20.1x | |||
| $24B | $2.2B | 1.7x | 1.6x | 18.6x | 9.4x | |||
| $33B | $7.2B | 1.4x | 1.4x | 6.6x | 6.9x | |||
| $12B | $2.5B | 4.0x | 3.5x | 18.5x | 12.9x | |||
This data is available for Pro users. Sign up to see all Global Processing Services competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Global Processing Services
| When was Global Processing Services founded? | Global Processing Services was founded in 2007. |
| Where is Global Processing Services headquartered? | Global Processing Services is headquartered in London, United Kingdom. |
| Is Global Processing Services publicly listed? | No, Global Processing Services is a private, VC-backed company. |
| How much funding has Global Processing Services raised? | Global Processing Services has raised $458M across 3 funding rounds. |
| What was Global Processing Services' last funding round? | Global Processing Services' last funding round was a $100M undisclosed-stage round in January 2022, led by MissionOG and Temasek. |
| Who are Global Processing Services' investors? | Global Processing Services' investors include Temasek, Dunedin LLP, Advent International, Viking Global Investors and MissionOG. |
| Which companies are comparable to Global Processing Services? | Companies comparable to Global Processing Services include Ant Group, ACI Worldwide, Computer Age Management Services, eFinance, Optasia and Stripe. |
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