Paymentology, the London-based global issuer-processor, has raised $175m in a round co-led by Apis Partners and Aspirity Partners, the company said on Tuesday.
Apis invested through its Apis Growth Fund III vehicle, which the firm said takes its total payments-sector investment count to 16.
For Aspirity, a pan-European private-equity firm focused on financial technology and enterprise services, the deal is the inaugural investment from the firm’s first fund.
Paymentology said the capital will support continued global expansion, product development, and team growth as the company builds on demand for modern issuer processing.
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Paymentology operates in 68 countries and 14 time zones, providing cloud-native issuer-processing infrastructure to fintechs, digital banks, and retail banks.
The platform supports both card issuance and digital payment programmes and is positioned against legacy issuer-processing systems that the company says limit innovation, speed, and end-user payment experiences. The global payments market is estimated at $49trn by 2026.
CEO Jeff Parker said the investment is an endorsement of the company’s platform and strategy.
“We’ve built an issuing platform designed for growth, helping digital banks, fintechs, and financial institutions launch, scale, and expand their card programmes with confidence,” Parker said in the announcement.
“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.”
The company reports new sales rose 117% year-on-year in FY25, with transaction volumes up 65%. Growth has been driven by demand from digital banks, embedded-finance providers, digital-asset-linked card programmes, and expense-management platforms, alongside established banks modernising legacy systems.
Paymentology has significant exposure to high-growth regions, including the Middle East, Latin America, Africa, and APAC.
Named customers include M-Pesa by Safaricom, RedotPay, Rain, TrueMoney and ARQ on the fintech side, and GoTyme, Snappi, Wio Bank, D360, and Albo among the neobanks the platform powers.
Joe O’Mara, founder and managing partner at Aspirity, said the deal reflected the firm’s sector-specialist approach and the contribution of its Innovator and Leader network.
Matteo Stefanel, co-founder and managing partner at Apis, said the round builds on a decade-plus relationship with the Paymentology executive team.
Udayan Goyal, co-founder and managing partner at Apis, said the deal “reinforces our strong conviction in the opportunity within issuer processing” and pointed to the firm’s broader focus on capital-light infrastructure businesses.
Paymentology said it will use the funding to expand beyond core issuer processing into adjacent areas, including credit, stablecoin, tokenisation, and AI-driven services.
The company did not disclose its post-money valuation or revenue figures. Apis manages or advises on roughly $2.3bn in AUM. The deal closes immediately.
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