DNA Payments Group is acquiring Peterborough-based payment solutions provider Kwalitas for an undisclosed amount.
It seems snapping up firms is in the fintech firm’s DNA as this is its fourth acquisition in 24 months.
Nurlan Zhagiparov, Co-Founder of DNA Payments, explains: “Despite the global COVID-19 pandemic, 2021 was truly transformative for us as we added industry-leading payments solutions and new payment methods, helping our customers to operate during these challenging times. DNA Payments is tier agnostic and serves its SME customers through its independent sales organisations.”
There are no details about any job changes or cuts as part of the deal. Kwalitas was established in 2004 and has 11 employees on LinkedIn.
Kwalitas is a provider of merchant services and other business support services. Its website mentions EPoS systems, cash advance, business finance, business insurance, accountancy services, utility review and telecoms.
DNA is a newer – and bigger – entity. It was founded in 2017 and has over 150 employees. Companies within the group include 123Send, Active Payments, Optomany and Zash AB. It has its headquarters in London and an operations hub in Kent.
Its solutions include POS terminals, gateway integrations, custom online payment services, and card payments to Pay by Link, Pay by Bank app and PayPal. DNA offers cloud-based payment processing capabilities, and also provides a variety of Software as a Service (SaaS) and Platform as a Service (PaaS) solutions to acquirers and payment schemes.
According to DNA, its estate includes 70,000+ POS terminals, 45,000+ merchants and over 17 million transactions per month.
Last year, DNA raised £100 million in funding from Alchemy Partners.
At that time, DNA said the investment will be used for product development and to continue with its strategy of “selective acquisitions” to grow its presence not only in the UK but also internationally.