DNA Payments Group Secures £100 Million in Funding

The fintech firm has signed a deal with Alchemy Partners.

DNA Payments 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 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.

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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.

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