PPRO CEO Simon Black to step down

Black is stepping down at the end of the year after almost a decade leading the fintech.

PPRO’s CEO Simon Black is leaving the fintech at the end of this year after what will be nine years.

The decision to step down from the digital payments infrastructure provider follows the completion of the integration of Alpha Fintech, which PPRO acquired last March.

Following the acquisition, the company says the management team has been reshaped, the board strengthened and Lázaro Campos has been appointed as Chairman.

“I’m incredibly proud of what we have achieved and I’m most excited about what lies ahead for PPRO. The company is better positioned than ever before, especially with the addition of an outstanding CTO, CFO and Chief Commercial Officer in the last 18 months,” Black said.

“Over the next few months, we are launching a new single API, a global payment gateway and the first, frictionless, cross-border e-commerce solution for UPI in India.”

Black said he has decided it is the right time to step aside and help transition a new CEO with the company position for its next phase of growth.

He joined the company as CEO in 2015 following 10 years at SagePay, eight of which he served as CEO.

During his tenure at PPRO the company has reached unicorn status and its most recent funding round raised £132m.

He has led a series of funding rounds totalling more than $300m, bringing in strategic investors including PayPal, Citi and JP Morgan.

“Simon has a wealth of experience and expertise in the fast-paced payments landscape and has positioned PPRO with a strong foundation for the future, building an exceptional management team and a compelling market position,” Campos said.

“The board will now take the time needed to find the right successor and continue to build the business from strength to strength.”