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June 15, 2021

DNA Payments secures £100m investment from Alchemy Partners

By Johney Amala

DNA Payments Group (DNA), a London-based vertically integrated payments company, has signed a £100m deal with Alchemy Partners.

DNA said the investment would help it enhance its product offering and position it to make new acquisitions as it looks to accelerate growth in the UK and international markets.

DNA has an operations hub in Kent. It is said to provide over 70,000 terminals to more than 45,000 merchants ranging from major online and offline retailers to SMEs.

The firm is also claimed to be one amongst the few players in the UK and Europe with fully cloud based omni-channel payment processing capabilities.

It also offers a variety of SaaS and PaaS solutions to major global acquirers and payment schemes.

DNA founders Arif Babayev and Nurlan Zhagiparov said that Alchemy’s investment is a huge endorsement of the company and its technology.

They said: “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.”

Alchemy considers DNA well positioned to take advantage of the emerging market opportunity as the UK witnesses signs of recovery from the Covid-19 pandemic.

Alchemy Partners partner Toby Westcott commented: “Merchants’ increasing need for omni-channel payments solutions combined with the strength of DNA’s product proposition creates a compelling investment opportunity and we are excited to join DNA on its journey to build a leading payments business in the UK and expand into Europe.”

In January this year, DNA acquired Active Merchant Services (also known as Active Payments), a UK-based independent sales organisation with more than 2,500 merchants.

Last year, the firm purchased Sweden-based fintech firm Zash to bolster its merchant services and worldwide growth, following its takeover of local rival CR7 Services in 2019.

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