Dojo announces landmark investment of $190 million from Vitruvian Partners
LONDON--(BUSINESS WIRE)--Dojo, the leading UK payments technology provider, today announces it has secured an investment of $190 million from Vitruvian Partners, a leading global growth investment firm. The investment marks the first equity raise in Dojo's history. The funds enable Dojo to significantly accelerate the company's continued growth in the UK and expansion across European markets. Dojo's mission is to reinvent the payments landscape to grow in-person commerce. Its next-generation cloud-native platform offers the flexibility to meet the evolving needs of enterprises. Dojo processes between 6 and 9 million transactions per day, delivering super-fast transactions and "always-on" connectivity to its customers.
Since its launch in 2021 Dojo has grown rapidly, becoming an SME champion, and increasingly winning and supporting larger enterprises thanks to its highly scalable end-to-end platform. It brings a deep commitment to understand and meet the needs of its customers, from small, often family-run businesses, to some of the most recognised high street brands. As a result, Dojo has delivered exceptional growth – securing a leading market share in the UK, and engaging with 50 million unique consumer cards monthly.
The investment will help Dojo build on its strong track record and accelerate its strategic growth plans, enabling it to scale across key European markets, including Ireland, Italy, and Spain. This will create a much larger addressable market for Dojo to leverage its highly scalable technology.
Vitruvian brings strong experience in the fintech and payments sector, with a proven ability to identify and scale disruptive, ambitious businesses such as Dojo. Through the investment, Vitruvian will work in partnership with the management team to support Dojo's growth ambitions.
Francois Callens, Chief Financial Officer at Dojo, 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.'
Stephen Byrne, Partner at Vitruvian Partners, 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.'
-ENDS-
J.P. Morgan Securities PLC acted as Sole Placement Agent on the raise.
About Dojo
Dojo is a leading payment technology provider that empowers over 140,000 businesses to grow their in-person commerce. Dojo offers one of the world's leading multi cloud-native payments platforms to provide in-person and digital payments solutions alongside value-added services such as business funding and booking management software. Dojo's highly reliable technology can be installed in a matter of minutes - giving businesses big and small the power to make informed decisions through instant insight and process, manage and measure card payments securely and easily.
About Vitruvian Partners
Vitruvian Partners is a global growth-focused investor with offices across London, Stockholm, Munich, Madrid, Luxembourg, Mumbai, Singapore, Shanghai, Miami, and San Francisco. Vitruvian focuses on dynamic situations characterised by rapid growth and change across asset-light industries. Vitruvian has over $20 billion of active funds which have backed many global winners and leaders in their sectors, including Just Eat, EasyPark, Skyscanner, Marqeta, Wise, Global-e, CFC, Darktrace, and Bitdefender. Further information can be found at www.vitruvianpartners.com
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