Overview
GPS is helping to disrupt a multi-billion-pound industry and is well positioned to take advantage of the continuing rise of highly successful fintech payments companies around the world. We are supporting the management team to grow GPS into a truly global leader in this niche of the payments market.
The Opportunity
GPS has demonstrated rapid growth, driven by market and customer demand for its market leading technical functionality and speed in getting customers’ new payment and banking products to market. The addressable international market for GPS is large, serving innovative and emerging fintech/challenger bank offerings and gaining traction with traditional providers.
We were attracted to GPS as we saw a significant opportunity to apply our experience of enabling UK companies with a technological edge to shine on the international stage. We are working with GPS to increase its client portfolio and grow the client base internationally. This includes building the sales and marketing function, looking at innovative client offerings, enhanced functionality and developing new product offerings for larger established banks without the challenge of overhauling legacy systems.
To drive growth we have recruited a strong team, including a new Chairman, CFO, CTO, Chief Product Officer and Head of HR.
Working together
The founders of GPS attended our annual investor and investee meeting at Gleneagles before they formally selected us. This allowed them to get a deeper understanding of how we work and to meet the wider Dunedin team, thus cementing a very strong working relationship.
Looking ahead
In October 2020 GPS secured investment from long-standing partner Visa Inc. to accelerate its global expansion, thus cementing its position at the heart of the fintech revolution.
The global payments industry is seeing record growth, with COVID accelerating the structural shift from cash to electronic payments. GPS has been a major contributor to the fintech revolution, being the only issue processor of its kind to support fintechs, challenger banks and e-wallet providers on their growth journey.
Since our investment in 2018, GPS has achieved spectacular growth with its operations expanding from the UK into Europe and APAC and year on year revenue growth exceeding 30%. This impressive growth rate is being driven by client acquisition, retention and underlying client growth. There are further significant growth opportunities to pursue in geographies such as Asia, the Middle East, LATAM and North America.
Joanne Dewar, Chief Executive Officer, Global Processing Services
