The investment would support DNA in advancing the growth, enhancing its product offering and continue its strategy of selective acquisitions


DNA Payments raises £100m from Alchemy. (Credit: Business Wire.)

UK-based DNA Payments (DNA) has received £100m investment from Alchemy Partners to advance growth and make new acquisitions.

Alchemy Partners is a British private equity firm focused on investing in distressed and undervalued or underperforming businesses and other special situations across Europe.

The new investment from Alchemy is expected to help DNA benefit from the strong market opportunity, with the country started recovering from the Covid-19 pandemic.

Alchemy Partners partner Toby Westcott said: “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.

“We are focused on helping companies grow and develop, and having worked closely with both Arif and Nurlan during this extraordinary period caused by the Covid 19 pandemic, it was clear that DNA and Alchemy’s goals, missions and values were closely aligned.

“Merchants’ increasing need for omnichannel 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.”

In recent months, DNA has expanded its e-comm solutions and payment methods to offer Pay by Link, Checkout v3, ApplePay, Pay by Bank, PayPal, Open Banking and other new capabilities to merchants.

The company said that the investment would support its plans to advance the growth, helping more merchants accept payments rapidly and easily, both in-store and online.

Its technology and vertical integration would benefit the firm in servicing its partners and customers, along with setting a foundation for additional acquisitions.

Also, the Alchemy investment would help the company enhance its product offering and continue its strategy of selective acquisitions to enhance its footprint in the UK and abroad.

DNA currently serves more than 45,000 merchants, with over 70,000 terminals, making more than 20 million transactions worth over £600m a month.

It owns the fully cloud-based independent omnichannel gateway Optomany, which services large corporates and medium-sized businesses.

Proskauer, Houlihan Lokey and EY advised DNA for the transaction, while Macfarlanes and PWC advised Alchemy.

DNA founders Arif Babayev and Nurlan Zhagiparov said “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.”