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Dubai: Meridien, a US holding company which specialises in the global payment, CRM and Banking Industry, has set fourth its plans to list on the NYSE. Alongside other strategic acquisitions, Meridien will acquire a 27% stake in fintech firm DKK Partners, which has offices in Dubai, to bolster the groups capabilities.
DKK has offices in several key African countries including Ghana, Nigeria, Cameroon and Senegal in addition to offices in London and Dubai.
The company specialises in emerging markets (EM) and foreign exchange (FX) liquidity, to continue the firm’s global expansion. Founded in 2020 by banking industry veterans Dominic Duru, previously of RBS and Citi, and Khalid Talukder, previously of UBS, Citi & Deutsche Bank.
DKK has seen its flow rise to $1.3BN in transactions in the last year with EBITDA reaching an impressive $2MM with 150% CAGR in the last year.
As part of the deal Meridien Holdings and DKK Partners have forged a strategic alliance to complement its business plans by securing global payment, acquiring, banking and FX liquidity capabilities. The agreement will include DKK gaining shares in Meridien alongside a multimillion-dollar cash injection to enable rapid expansion.
Earlier this year, DKK partnered with the Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to enable transparent and efficient transactions for global financial institutions. The firm also received initial approval from the Dubai Virtual Assets Regulatory Authority (VARA) to offer Virtual Asset Broker Dealer Services (VASP).
The strategic objective is to acquire and aggregate financially regulated institutions across multiple geographies creating a seamless transfer of value across the Meridien ecosystem combining both TradFi and DeFi.
Khalid Talukder, co-founder, DKK Partners said:
“This is a pivotal moment for our business and it’s a real honour to partner with Meridien as we enter our next phase of growth. Both businesses have shared values and a commitment to excellence, and we’re thrilled to be working to build a truly disruptive global brand that will redefine the payments industry.”
Erik Lara Riveros, CEO of Meridien Holdings said:
“DKK has an incredible growth story, a fantastic customer base, and a scalable business model, alongside a strategic partnership with Seed Group, makes them a game changing VASP in the region. The partnership with DKK, in conjunction with our other acquisitions of listed and regulated financial institutions, is perfect for Meridien and its preparation to list on the NYSE, driving the goal of creating a revolutionary business model in the industry of global payments, banking and correspondent services.”