London FinTech DNA Payments raises £100m

London-based FinTech DNA Payments has received a £100 million investment from private equity firm Alchemy Partners.

DNA said it serves 45,000 merchants and provides them with over 70,000 terminals making over 20 million transactions worth over £600 million a month.

The FinTech said it will use the funding to accelerate its growth, enhance its product offering, and continue its strategy of selective acquisitions to grow its presence both in the UK and internationally.
DNA claims to have doubled its estate size and turnover in the past 18 months.

The FinTech was advised on the deal by Proskauer, Houlihan Lokey, and EY while Alchemy Partners was advised by Macfarlanes and PwC.

“Merchants’ increasing need for omni-channel payments solutions combined with the strength of DNA’s product proposition creates a compelling investment opportunity and we are excited to join DNA on its journey to build a leading payments business in the UK and expand into Europe,” said Toby Westcott, partner at Alchemy Partners.

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