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DKK Partners, a leading Frontier Markets FinTech company which specialises in emerging markets (EM) and foreign exchange (FX) liquidity has announced the successful closing of their pre-seed funding raise, totalling £3 million, prior to Series B set to take place at the beginning of 2024.
The company surpassed their initial funding target by 33 per cent, marking a significant milestone in their journey to democratise access to FX liquidity sector by providing financial services across the globe, driving forward business opportunities and supporting banks or financial institutions in emerging markets.
The London based frontier markets trading house is oversubscribed, cementing its current pre-money valuation at approximately £100 million as they have seen record revenue growth over the last 3.5 years, expanding rapidly since it was founded in 2020. The funding will be used to drive forward further expansion opportunities in the coming years.
The news follows DKK Partners’ recent expansion into East Africa, opening its newest office in Nairobi, Kenya followed by Uganda and Tanzania which is supported by the successful attainment of the CONSUMAF licence which will help to accelerate its financial services operations in Africa.
Khalid Talukder, Co-founder of DKK Partners, said “At DKK Partners we saw value in providing the opportunity for those who have supported us over the years, helping us to build the organisation that exists today, to continue their support, share our success and give thanks to all who have been a part of our journey up until this point.”
“Our organisation has grown tremendously since it was founded and we are excited to continue our journey, reaching more emerging markets and improving global trade by improving the FX and payments sector. It is all too common that business opportunities can be delayed or missed without access to high quality financial services, and we are looking forward to seeing how DKK Partners can provide help to those who need it around the globe.”
Dominic Duru, Co-Founder of DKK Partners, said: “The pre-seed funding raise will continue to strengthen balance sheets, allowing us to invest in additional compliance and technology to help drive efficiency and distribution of our products and services. As we continue to scale up our organisations and expand our operations, our goal is to provide the highest quality FX and payments services, making trading in key markets such as Africa easy.”
“We hope to further disrupt markets and liberate a whole new generation of companies, from ambitious start-ups to established corporates, allowing our customers to develop clear strategies, manage currency risk and develop sharp pricing.”