Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, January 12 2021 - 19:00
AsiaNet Triples Valuation to $15bn with $450m Series C Fundraise, Accelerating Global Expansion
NEW YORK, Jan. 12, 2021 /PRNewswire-AsiaNet/ --

-- becomes EMEA's most valuable venture-backed business and fourth 
largest fintech globally

-- Opens NYC and Denver offices to meet growing U.S. demand for enterprise 
payments solutions

-- $450m Series C led by Tiger Global Management, with participation from 
Greenoaks Capital and all other existing investors

-- The profitable cloud-based payments technology business tripled its payment 
processing volume YoY in 2020, adding 500+ new enterprise customers including 
Coinbase, Pizza Hut, H&M, Grab, Klarna, Farfetch, and Telegram in the last 12 
months ( ), the leading Connected Payments(TM) 
solutions provider, today announced that it closed a $450 million Series C 
fundraising round. This gives the business a post-money valuation of $15 
billion, making it the fourth largest fintech globally and EMEA's most valuable 
venture-backed business(1), as the business continues to expand across the 

The Series C was led by Tiger Global Management, LLC, a New York-based 
technology investor that partners with dynamic entrepreneurs operating 
market-leading growth companies, including Facebook, LinkedIn, Spotify, 
ByteDance, and Greenoaks Capital also joined the round along with 
participation from existing investors Insight Partners, DST Global, Coatue 
Management, Blossom Capital, Endeavor Catalyst, and Singapore's Sovereign 
Wealth Fund GIC. 

Guillaume Pousaz, CEO and Founder of said: "Payments affect 
everything from the customer journey to a business's ability to enter new 
markets or launch new products. This latest fundraise reflects our 
market-leading position and the size of our aspirations as we accelerate in our 
mission to empower merchants to build better products, drive more revenue and 
create innovative business models by reimagining interactions with financial 
services. Our new investors bring a wealth of experience across payments, 
technology and scaling companies – crucial knowledge for the next stage of our 
growth, as we continue to build our vision for the future of Connected 

Investing in the Future of Payments

Research from McKinsey & Company highlights the scale of the payments 
opportunity, with total global payments revenue reaching just under $2 trillion 
in 2019(2). Meanwhile a recent report from in partnership with 
Oxford Economics(3) revealed the scale of the challenge that many merchants 
face, with $20.3 billion lost to false declines in payments in 2019 alone and 
more than $12.7 billion handed from first choice merchants to their 
competitors. Additionally, customers who gave up on their intended online 
purchase completely resulted in more than $7.6 billion of missed opportunity 
for merchants. addresses these issues by giving enterprise 
businesses the most proactive tools to drive best-in-class performance and more 
control through advanced data features, fraud management tools, and 
comprehensive reporting.

The fundraise comes as the global economy looks beyond the COVID-19 pandemic. 
While many organizations have historically relied on one-size-fits all payment 
systems, the need to drive improved performance, gain transparency across 
payments and extract valuable information from data is increasingly becoming a 
competitive differentiator.'s cloud-based unified platform enables 
merchants to manage payins and payouts at scale, while achieving better 
performance and improved acceptance rates globally. Leading ecommerce 
businesses such as Farfetch, Mango, Victoria's Secret, L'Occitane and The Hut 
Group depend on for a fast, reliable, adaptable and safe platform 
that gives granular access to the data and pricing behind every transaction.

While's profits from current operations will continue to be 
reinvested to power future growth, the new funding will be used to further grow 
its balance sheet and drive new innovative opportunities. With a total of $830 
million raised within the last two years,'s readily available cash 
represents one of the strongest balance sheets across all global fintechs. This 
further strengthens the company's resilience as a regulated entity in numerous 
markets and as the financial partner to its merchants. It also allows for 
continued strategic investments and product developments, like the 
Payouts solution which saw exponential growth over the last year. Unveils North American Headquarters

In addition to today's Series C funding announcement, is 
announcing the opening of its New York City office. The company first launched 
in the U.S. in 2017 and has operations in San Francisco. Together, the 
bicoastal offices will power the organization's ability to meet the growing 
demand in the U.S. for Connected Payments(TM) solutions, as 
increases its focus on serving U.S.-based enterprises in domestic, global and 
cross-border payments. The company is also announcing an office in Denver. 
Globally, will hire an additional 700 people across all its 
locations  in 2021.'s transformative approach to payments and payouts has garnered its 
reputation as the most trusted technology provider behind many of the most 
valuable fintechs and cutting-edge businesses, including Klarna, Revolut, 
Transferwise, Coinbase, and eToro. With a platform that can support both 
best-performing global payments and payouts, has become the 
backbone of the world-beating progressive business models, among the leading 
fintechs, streaming services, and marketplaces.

Scott Shleifer, Partner at Tiger Global Management said: "We are excited to 
partner with Guillaume and as they continue to build an innovative 
global payments and financial services platform trusted by leading internet 
companies. We believe the shift to digital commerce is still in the early 
stages, and's focus on developing a best-in-class technology 
platform has positioned them to be a leader in the industry for years to come."

In June 2020, announced its Series B which valued the business at 
$5.5bn and was led by technology fund Coatue Management. In 2020, it also 
announced the acquisitions of ProcessOut and PinPayments, as well as a 
strategic investment in Thunes.  

About empowers businesses to adapt, innovate, and thrive with the 
Connected Payments(TM) they deserve. The company's technology makes payments 
seamless. Flexible solutions, granular data, and instant insights help global 
enterprises launch new products in new markets and create outstanding customer 
experiences. They provide the fastest, most reliable payments in more than 150 
currencies, with in-country acquiring, world-class fraud filters and reporting, 
through one API. And they can accept all major international credit and debit 
cards, as well as popular alternative and local payment methods. 
launched in 2012 and now has a team of 1000 people across 17 offices worldwide, 
offering local expertise where it's needed. Find out more at

Twitter ( ) | LinkedIn ( )  

About Tiger Global Management, LLC
Tiger Global Management ( 
), LLC is an investment firm focused on public and private companies in the 
global Internet, software, consumer and financial technology sectors. Since 
2003, its private equity business has invested in hundreds of companies across 
more than 30 countries, including investments ranging from Series A to pre-IPO. 
Such investments have included Spotify, Harry's, Warby Parker, Peloton,, 
Facebook, LinkedIn, Yandex, Group, Despegar, Ola and Flipkart. Tiger 
Global Management, LLC, was founded in 2001 and is based in New York with 
affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.

(1.) PitchBook, January 2021
(2.) The 2020 McKinsey Global Payments Report, McKinsey & Company, October 2020
(3.) Black Boxes and Paradoxes: The Real Cost of Disconnected Payments,, July 2020 Press contact: 
Lewis Jones 
Communications Manager