Dunedin-backed GPS draws investment from Visa

This investment will go towards accelerating GPS's global expansion.

Dunedin will continue to be invested in the company following the transaction, a spokesperson told Unquote. 

Previous funding
Dunedin backed the management buyout of privately owned GPS in June 2018. The GP drew capital from Dunedin Buyout Fund III, a £300m fund that held a final close in June 2013. The firm acquired a significant stake in the buyout, in return for a total investment of £44m in debt and equity.

Company
Founded in 2015 and based in London, GPS is a payments processor. The company generated revenues of £16.5m in 2019 and adjusted EBITDA of £3.79m.

Advisers
Company – Financial Technology Partners (corporate finance); FTP Securities (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Dunedin