Alchemy Partners invests £100m in DNA Payments
Payments processing firm DNA Payments has received a £100 million investment from Alchemy Partners to boost its growth in the UK and Europe.
London-based DNA offers a cloud-based omni-channel payment processing service.
The firm claims to serve 45,000 merchants and process transactions worth £600 million every month.
In January it acquired Active Merchant Services, marking a third acquisition in 14 months.
In a joint statement, co-founders Arif Babayev and Nurlan Zhagiparov say the investment marks “a huge endorsement” in its technology.
They add: “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.”
DNA is using its new cash to enhance its product offerings and continue with “a strategy of selective acquisitions” to grow its presence in the market.
“Merchants’ increasing need for omni-channel payments solutions combined with the strength of DNA’s product proposition creates a compelling investment opportunity,” says Toby Westcott, partner at Alchemy.
“Alchemy is always looking for opportunities to partner with talented business founders and uncover attractive investments that others may not be able to access.”