Dojo has raised $190m in a landmark equity investment from Vitruvian Partners. This marks the first time the company has raised external equity capital.
The investment from Vitruvian, a global growth investment firm with a strong track record in FinTech and payments, is expected to significantly accelerate Dojo’s growth trajectory. The funds will help the company expand further in the UK and deepen its presence in key European markets.
Founded in 2021, Dojo has swiftly emerged as a major player in the payments space. Its platform supports seamless, high-speed in-person transactions and offers robust “always-on” connectivity. The company currently processes between 6 and 9 million transactions daily and engages with over 50 million unique consumer cards every month.
The new funding will enable Dojo to build on its leading UK market position and scale its operations into new European territories, including Ireland, Italy and Spain. The company aims to capitalise on the opportunity to serve a broader customer base, ranging from family-run SMEs to large enterprises.
Vitruvian Partners brings extensive sector expertise and will work closely with Dojo’s management team to support its ambitions. The firm has previously backed other high-growth FinTech businesses and sees Dojo as ideally positioned to capitalise on the shift toward embedded and integrated payments.
Dojo chief financial officer Francois Callens said, “In a short space of time, our game-changing technology and proven customer proposition has enabled us to become the market leader in the UK. Our ambition doesn’t stop here. Dojo has a large and exciting opportunity ahead, and with the support of Vitruvian, we have the investment to deliver on our plans to scale our growth and enable in-person commerce across Europe.
“The investment is testament to the hard work from our team and the deep support from our partners and customers over the past four years. We are proud to demonstrate that the UK tech sector can attract global investment, and look forward to working with Vitruvian to deliver our shared ambition of bringing our technology to more Enterprises and becoming a leader in card payments in Europe.”
Vitruvian Partners partner Stephen Byrne said, “We’re delighted to be partnering with Dojo at this critical point on their growth journey. The Dojo team have built next-generation technology that is disrupting card payments and believe they are well-positioned to benefit from an ongoing, fundamental shift towards embedded and integrated payments. Vitruvian’s investment in Dojo builds on our track record in the payments sector and we look forward to providing capital and support to accelerate Dojo’s growth.”
Source: https://breakingfintech.news/
