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DNA Payments acquires UK-based payment solutions provider First Payment Merchant Services
Following its £100 million fundraise from Alchemy Partners in 2021, DNA Payments marks its 7th acquisition with the strategic purchase of First Payment Merchant Services (FPMS), a payment solutions provider based in Surrey, UK.
Over the past 10 years, FPMS has become a well-known player in the payments sector, priding itself as the partner of choice for more than 10,000 customers across the UK. It facilitates around 400 million transactions per year for SMEs and larger customers.
The acquisition enables DNA Payments to expand its omnichannel platform to FPMS customers. DNA Payments will also benefit from the in-house, expert team at FPMS, fulfilling its mission: “Pioneering payment solutions, empowering businesses to thrive”.
Arif Babayev, Co-Founder of DNA Payments, said:”It’s great to have Vicki and the amazing FPMS team as part of DNA Payments’ family. We welcome each FPMS customer and look forward to complementing the wonderful service they’ve received over the years with our excellent product suite. Our explosive organic growth is accompanied by our very selective acquisitions to expand our market share.”
Vicki Kelson, MD of FPMS, said: “We’re delighted to become a part of the DNA Payments Group. Over the years, we’ve enjoyed rapid growth and amassed a unique client base and a great team. The future looks very promising; we’re looking forward to providing our customers with an extensive range of innovative payment solutions.”
Proskauer Rose LLP provided legal transactional support to DNA Payments on the acquisition, with EY providing support on the financial and tax aspects of the transaction.
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