DKK Partners, a Frontier Markets FinTech firm, has celebrated the successful culmination of their pre-seed funding round.
The funding round witnessed the company garnering a total of £3 million. This feat comes as a prelude to their anticipated Series B, slated to commence at the start of 2024.
This Frontier Markets FinTech enterprise, with a focus on emerging markets (EM) and foreign exchange (FX) liquidity, is on a mission. DKK Partners is dedicated to democratising access to the FX liquidity sector. They aim to provide vital financial services globally, thereby propelling business opportunities and bolstering banks and financial institutions in emerging territories.
The raised capital is earmarked for fostering further expansion ventures in the upcoming years.
DKK Partners has been on an upward trajectory, having exceeded their initial funding goal by an impressive 33%. This accomplishment underscores a crucial chapter in their endeavour to foster financial inclusivity across borders. Moreover, the company has seen a consistent surge in its revenue over the past 3.5 years, growing exponentially since its inception in 2020. The firm’s current pre-money valuation stands at an approximate £100 million.
In recent developments, DKK Partners expanded its presence to East Africa, inaugurating its latest office in Nairobi, Kenya. This move was swiftly followed by forays into Uganda and Tanzania, all underpinned by the successful acquisition of the CONSUMAF licence, furthering their financial outreach in Africa.
DKK Partners Co-founder Khalid Talukder remarked, “At DKK Partners we saw value in providing the opportunity for those who have supported us over the years, helping us to build the organisation that exists today, to continue their support, share our success and give thanks to all who have been a part of our journey up until this point.”
He further expressed his optimism, saying, “Our organisation has grown tremendously since it was founded and we are excited to continue our journey, reaching more emerging markets and improving global trade by improving the FX and payments sector. It is all too common that business opportunities can be delayed or missed without access to high quality financial services, and we are looking forward to seeing how DKK Partners can provide help to those who need it around the globe.”
On a similar note, Dominic Duru, Co-Founder of DKK Partners, stated, “The pre-seed funding raise will continue to strengthen balance sheets, allowing us to invest in additional compliance and technology to help drive efficiency and distribution of our products and services. As we continue to scale up our organisations and expand our operations, our goal is to provide the highest quality FX and payments services, making trading in key markets such as Africa easy.”
He also shared the company’s vision, expressing, “We hope to further disrupt markets and liberate a whole new generation of companies, from ambitious start-ups to established corporates, allowing our customers to develop clear strategies, manage currency risk and develop sharp pricing.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
