Following its £100 million fundraise from Alchemy Partners last year, DNA Payments marks its 7th acquisition with the purchase of First Payment Merchant Services (FPMS), a payment solutions provider operating out of Surrey, UK.
During the last 10 years, FPMS has become a key 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 as well as other larger clients.
As mentioned in a release, 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, added:
“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 offered legal transactional support to DNA Payments on the acquisition, with EY offering support on the financial and tax aspects of the transaction.
As noted in a release, First Payment Merchant Services, based in Surrey, was founded by MD Vicki Kelson in 2011, “providing credit and debit card terminals and Epos business finance to businesses throughout the UK.”
Vicki explains that there was “a gap in the market, putting the quality of service, reduced costs, and customer focus at the forefront of the business model.”
With customers spanning the Highlands of Scotland, London, and the Channel Islands, FPMS “supports clients with its varied professional suite of card payment processing and business finance solutions.”