UK-based payments technology provider Dojo has secured a $190m investment from Vitruvian Partners, the company’s first equity raise since its formation.   

The funding will support Dojo’s growth initiatives within the UK and its expansion into additional European markets including Ireland, Italy, and Spain.  

The company seeks to advance the payments landscape with its cloud-native platform.  

 Set up in 2021, it processes between six and nine million transactions per day, delivering transactions and “always-on” connectivity for its customers.  

Vitruvian Partners, with experience in the fintech and payments industry, will collaborate with Dojo’s management team to facilitate the company’s growth strategy.  

J.P. Morgan Securities was the sole placement agent for the investment round. 

Dojo chief financial officer Francois Callens said: “In a short space of time, our game-changing technology and proven customer proposition has enabled us to become the market leader in the UK. Our ambition doesn’t stop here. Dojo has a large and exciting opportunity ahead, and with the support of Vitruvian, we have the investment to deliver on our plans to scale our growth and enable in-person commerce across Europe. 

“The investment is testament to the hard work from our team and the deep support from our partners and customers over the past four years. We are proud to demonstrate that the UK tech sector can attract global investment, and look forward to working with Vitruvian to deliver our shared ambition of bringing our technology to more Enterprises and becoming a leader in card payments in Europe.” 

In 2023, Dojo secured an e-money licence (EMI) from the Central Bank of Ireland, allowing the payment provider to offer its services in the region.