Paymentology raises $175m from Apis and Aspirity to scale card-issuing platform
Paymentology, the global card issuing and processing platform, has raised $175 million in a financing round co-led by private equity firms Apis Partners and Aspirity Partners, alongside Enterprise Technology & Connectivity Services. The capital will fund international expansion, product development and team growth, the company said.
Paymentology supports clients in close to 70 countries with more than 400 clients and 500 employees, and has enabled more than one billion transactions across more than 60 countries. Its customer base spans fintechs including M-Pesa by Safaricom, RedotPay, Rain, TrueMoney and ARQ, and neobanks GoTyme, Snappi, Wio Bank, D360 and Albo. The Middle East, Latin America, Africa and APAC are the company's strongest regional markets.
The investment lands on the back of a strong FY25, with new sales up 117% year-on-year and transaction volumes up 65%. Paymentology attributes the growth to four sources: demand from digital banks and embedded finance providers, demand from digital asset-linked card programmes and expense management platforms, modernisation of legacy systems at established banks, and a diversified geographic client base.
"This investment and the strength of our partnership with Apis and Aspirity is a strong endorsement of our platform and strategy," said Paymentology CEO Jeff Parker. "It positions us to accelerate our growth, expand our capabilities, and continue supporting our clients as they build momentum." Aspirity Partners founding partner Joe O'Mara called Paymentology "the kind of category-leading platform" that fits the firm's payments-focused investment strategy.
The raise consolidates Paymentology's position among a small group of modern, multi-region issuer processors competing for the share of card volume that legacy processors are losing as digital banks, embedded finance providers and crypto-linked card programmes scale.
