Business a.m.
Meridien, a US holding company specialising in payment, customer relationship management, and banking, has unveiled plans for a listing on the New York Stock Exchange (NYSE). As part of its expansion strategy, Meridien has set its sights on securing a 27 percent stake in the UK’s DKK Partners, a fintech firm, with the aim of strengthening the holding company’s offerings and capabilities in the global market.
The scope of DKK Partners’ geographic presence encompasses prominent African nations, such as Ghana, Nigeria, Cameroon, and Senegal, in addition to its existing offices in London and Dubai. The fintech trailblazer, established by industry luminaries Dominic Duru and Khalid Talukder, is propelling its global expansion by specialising in foreign exchange and emerging market liquidity. In the past year, DKK’s transaction volumes skyrocketed to $1.3 billion, while its EBITDA surged to $2 million, demonstrating a 150 percent compound annual growth rate.
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.
Commenting on the development, 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, remarked that DKK has an incredible growth story, a fantastic customer base, and a scalable business model, alongside a strategic partnership with Seed Group, which 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,” he added.
