The company says it will use the capital injection to enhance product offerings and continue selective acquisitions to grow in the UK and internationally. The company has already started accelerating its technology offerings, recently adding new e-comm solutions and payments methods to its fully cloud-based omnichannel by including Pay by Link, Checkout v3, ApplePay, Pay by Bank, PayPal and Open Banking.
“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,” Founders Arif Babayev and Nurlan Zhagiparov said in a statement.
DNA currently serves 45,000 merchants and has doubled both its estate size and turnover in the past 18 months. The payment processor’s customers include online retailers, offline retailers and SMEs across 70,000 terminals, totaling 20 million transactions worth over £600 million per month.
DNA was founded by Babayev and Zhagiparov in 2018, and is one of a handful of independent, fully vertically integrated payments companies in the UK and EU. DNA Payments Group owns Optomany, the UK’s largest independent omnichannel gateway, it claims, for large corporations and medium sized businesses.
The company has acquired a number of businesses since its founding, including CR7 Servides in 2019, Zash in 2020 and Active Payments in early 2021. DNA stated that it bought Active Payments to supplement its customer base which was largely aggregated through 123 Send, one of the UK’s oldest independent sales organizations.
In other recent fintech news, Clair, an earned wage access startup, raised $15 million in a Series A funding round according to a press release Thursday.