PPRO, the provider of virtual payments infrastructure, announced the acquisition of Alpha Fintech, a next-gen payments tech firm. The deal will reportedly “expand PPRO’s offering, strengthen its presence and networks in Asia Pacific (APAC), and allow it to deliver products and services faster to its customers.”
Alpha Fintech’s Cloud-powered platform “allows for the seamless integration of digital payments products and services, from payment processing and merchant management to risk management, fraud prevention, and data analytics.”
The APAC-focused firm has served a key role in “accelerating the growth of banks, fintech enterprises, and payment service providers, including New Zealand’s BNZ and Southeast Asia’s super-app Grab.”
By adding Alpha’s platform to its infrastructure, PPRO is now poised “to offer a plug-and-play orchestration layer that will let its customers integrate products and services faster and at scale.” Clients may look forward to more global payment flows, “the ability to integrate third-party applications, stronger compliance and risk capabilities, and deeper data insights.”
PPRO will also welcome Alpha’s 90 paytech experts into its ranks, “based primarily in Australia and Argentina, as well as the US and Singapore.” Their addition “boosts PPRO’s regional networks and presence and furthers its mission to become a global payments powerhouse.”
PPRO CEO Simon Black said:
“The acquisition of Alpha Fintech strengthens our position as both a global payments technology leader and trusted infrastructure partner to payment service providers, enterprises, banks and fintechs. Global payments are evolving faster than ever. Together with Alpha, we provide the core infrastructure that organisations will need to build out and expand their payment platform.”
Oliver Rajic, CEO of Alpha Fintech, also welcomed the deal, noting:
“We want to shake up and democratize payments. Given PPRO’s global reach, reputation, and standing, they’re the perfect partner to help us do that. We’re really excited to collaborate with Simon and the team to come up with end-to-end turnkey solutions that cover every aspect of digital payments”
The transaction is set to close during H1 2022. Financial Technology Partners (FT Partners) acted “as financial advisors and Noerr as legal advisors to PPRO in the transaction. Morrison & Foerster acted as legal advisors to Alpha Fintech.”
