DNA Payments Group Secures £100 Million in Funding
- The fintech firm has signed a deal with Alchemy Partners.
DNA Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Group, the UK-based payments company, announced today that it has raised £100 Million to accelerate the company’s growth. DNA Payments is also planning to make new acquisitions.
According to the official press release, the fintech firm has signed a deal with the UK-based private equity firm Alchemy Partners for the latest investment. DNA Payments has fully cloud-based omni-channel payment processing capabilities.
The company mentioned that it is currently providing services to more than 45,000 merchants. DNA is facilitating its merchants through 70,000 terminals. The company is planning to take advantage of the UK’s recent recovery from the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic.
“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,” Arif Babayev and Nurlan Zhagiparov, the Founders of DNA, commented on the latest announcement.
The recent announcement from DNA Payments came after Klarna, the Sweden-based financial technology firm, raised $639 million in a funding round led by SoftBank’s Vision Fund 2. Klarna received a valuation of $45.6 billion.
Product Expansion and Acquisitions
The company aims to take advantage of the recent trends in the global payments industry through the expansion of its product offering. In terms of acquisitions, DNA Payments is planning to increase its presence in international markets as well.
“We are delighted to be partnering with DNA. Alchemy is always looking for opportunities to partner with talented business founders and uncover attractive investments that others may not be able to access,” Toby Westcott, Partner at Alchemy Partners, said.
DNA Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Group, the UK-based payments company, announced today that it has raised £100 Million to accelerate the company’s growth. DNA Payments is also planning to make new acquisitions.
According to the official press release, the fintech firm has signed a deal with the UK-based private equity firm Alchemy Partners for the latest investment. DNA Payments has fully cloud-based omni-channel payment processing capabilities.
The company mentioned that it is currently providing services to more than 45,000 merchants. DNA is facilitating its merchants through 70,000 terminals. The company is planning to take advantage of the UK’s recent recovery from the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic.
“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,” Arif Babayev and Nurlan Zhagiparov, the Founders of DNA, commented on the latest announcement.
The recent announcement from DNA Payments came after Klarna, the Sweden-based financial technology firm, raised $639 million in a funding round led by SoftBank’s Vision Fund 2. Klarna received a valuation of $45.6 billion.
Product Expansion and Acquisitions
The company aims to take advantage of the recent trends in the global payments industry through the expansion of its product offering. In terms of acquisitions, DNA Payments is planning to increase its presence in international markets as well.
“We are delighted to be partnering with DNA. Alchemy is always looking for opportunities to partner with talented business founders and uncover attractive investments that others may not be able to access,” Toby Westcott, Partner at Alchemy Partners, said.