UK FinTech DNA Payments has raked in £100m after it signed an agreement with private equity firm Alchemy Partners.
Established in 2017, DNA Payments is a vertically integrated payments firm that offers solutions ranging from high-tech point of sale terminals to gateway integrations and online payment services.
The company is headquartered in London and claims it currently serves over 45,000 merchants ranging from offline and online retailers to SMEs, providing them with over 70,000 terminals that make over 20 million transactions worth over £600m a month.
According to DNA, the Alchemy investment will see DNA ‘well positioned’ to benefit from strong market opportunities as the UK economy begins to see the shoots of recovery from the Covid-19 pandemic.
DNA founders Arif Babayev and Nurlan Zhagiparov said, “Alchemy’s investment marks a historic day for DNA and is a huge endorsement of our company and our technology. We have been looking for the right partner with the right ethos, vision and experience and we are lucky to have found this partnership with Alchemy.
The past year has been difficult for businesses of all sizes, and at DNA we have been fully dedicated to helping our customers manage through the pandemic. In the past few months DNA has expanded our e-comm solutions and payment methods, providing merchants with Pay by Link, Checkout v3, ApplePay, Pay by Bank, PayPal, Open Banking and many other new capabilities.
This transaction will allow us to accelerate our growth, helping more merchants accept payments quickly and easily, both in-store and online. Our technology and vertical integration give us an unparalleled advantage in servicing our partners and customers, but also provide a great foundation for bolt-on acquisitions.”
The DNA co-founders also noted that the investment would allow the company to enhance its product offering and continue with its strategy of selective acquisitions to grow its UK and international presence.
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