Global payment platform Global Processing Services has closed a $400m fundraising round led by Advent International and Viking Global Investors.
Singaporean investment fund Temasek and US-based growth equity firm MissionOG also participated in the round.
GPS provides card programmes for fintechs, digital banks and finance providers. Its clients, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy, can design, launch, manage and scale card programmes across 48 countries.
The company has issued over 190 million physical and virtual cards to date. It reached record revenues last year with 1.3 billion transactions.
It said the new funding will be used for international expansion across Europe, APAC and MENA, and accelerate product and technology developments.
Advent made the deal through Advent Tech and affiliate Sunley House Capital.
The firm joined a $220m funding round in fintech startup Slice in November.
Advent surged to a $4bn final close for its second dedicated tech fundraise last month.
The firm was reportedly seeking up to $25bn for the mammoth new fund in October.
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