Card issuing platform Paymentology secures $175m to fund expansion

Paymentology, a global card issuing and processing platform, has secured $175m investment to support its ongoing global expansion.

The financing was co-led by private equity firms Apis Partners and Aspirity Partners, and Enterprise Technology & Connectivity Services.

In a statement, Paymentology said the capital will be used to support continued international expansion, product development and team growth.

Paymentology CEO Jeff Parker said: “This investment and the strength of our partnership with Apis and Aspirity is a strong endorsement of our platform and strategy. It positions us to accelerate our growth, expand our capabilities, and continue supporting our clients as they build momentum, and unlock truly unstoppable progress.”

Paymentology works with fintechs, digital banks and financial institutions to launch, operate and scale card programmes.

The company supports clients in close to 70 countries. Its customer base includes fintechs such as M-Pesa by Safaricom, RedotPay, Rain, TrueMoney and ARQ, as well as neobanks including GoTyme, Snappi, Wio Bank, D360 and Albo.

According to its website, Paymentology has more than 400 clients and a team of more than 500 employees. The company said it has enabled more than one billion transactions across more than 60 countries.

The funding follows growth company’s growth in FY25, with new sales up 117% year-on-year and transaction volumes rising 65%.

Paymentology attributed growth to “strong demand” from digital banks, embedded finance providers, digital asset-linked card programmes and expense management platforms. It also cited legacy system modernisation by established banks, a diversified international client base, and exposure to regions including the Middle East, Latin America, Africa and APAC.

Commenting on the investment, Aspirity Partners founder and managing partner Joe O’Mara said: “Payments is a core pillar of our investment strategy, and Paymentology represents the kind of category-leading platform we look to back: modern technology, global relevance and strong exposure to long-term growth in digital payments.

“As Aspirity’s first investment from our inaugural fund, this partnership reflects our sector-specialist approach and was the downstream outcome of our proactive thematic origination model, including the valuable contribution of our Innovator & Leader network.”

“Card issuing platform Paymentology secures $175m to fund expansion” was originally created and published by Electronic Payments International, a GlobalData owned brand.

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