DNA Payments secures £100 million from Alchemy Partners
By Megha Bhattacharya
DNA Payments Group (DNA), the integrated payments company, has signed a £100 million deal with Alchemy Partners (Alchemy). The investment by Alchemy sees DNA well-positioned to benefit from the strong market opportunity, with the UK beginning to see signs of a recovery from the Covid-19 pandemic.
Arif Babayev and Nurlan Zhagiparov, the founders of DNA, commented, “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.
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.
This investment will allow us to enhance our product offering and continue with our strategy of selective acquisitions to grow our presence not only in the UK but also internationally. We’ve more than doubled our estate size and turnover in the past 18 months and the future is incredibly exciting for us.”
DNA Payments Group currently serves over 45,000 merchants ranging from major online and offline retailers to SMEs, providing them with over 70,000 terminals which make over 20 million transactions worth over £600m a month. DNA offers fully cloud based omni-channel payment processing capabilities, and also provides a variety of SaaS and PaaS solutions to major global acquirers and payment schemes.
DNA was advised by Proskauer, Houlihan Lokey and EY and Alchemy was advised by Macfarlanes and PWC on this transaction.
IBSi Daily News Analysis
March 01, 2024
Banking Sector and regulatory framework: addressing India’s growing demand for secure lockersRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage