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FT Partners Advises GPS (now known as Thredd) on its £44 million Minority Financing

Overview of Transaction

  • On June 19, 2018, Global Processing Services (“GPS”) (now known as Thredd) announced it has raised £44 million in funding led by Dunedin
  • This is the first external investment accepted by GPS
  • Headquartered in Dougal, Isle of Man, with offices in London, UK, GPS is an award-winning proprietary API-based software platform powering leading next generation payments and banking innovators
  • GPS is revolutionizing issuer processing by offering disruptive FinTech card programs and mobile first banks with high-speed, direct connectivity to networks and issuers while approving transactions and initiating payment / settlement instructions
  • GPS’ developer friendly platform provides market leading, customizable solutions for card programs requesting specific processing features for their customers
  • Strengths in flexibility, implementation and customer service enable GPS’ clients success with reliable processing and on demand support
  • Dunedin is a UK private equity firm targeting buyouts and investments in market leading companies in the UK

Significance of Transaction

  • With this latest minority investment, GPS plans to build a world class sales team, additional data centers and continue to fuel international expansion
  • The deal is the UK’s 3rd largest FinTech financing so far in 2018

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to GPS and its Board of Directors
  • This transaction underscores FT Partners' deep Payments domain expertise and tis successful track record generating highly favorable outcomes for high growth FinTech companies globally