DNA Payments (DNA), a fintech payments company, continues to expand its service offering to merchants and global footprint through the acquisition of Zash AB (Zash), a Swedish fintech company providing Point of Sale Software and Payments services to over 1000 clients in the UK, across EU, Latin America and Brazil. Zash was founded by a serial entrepreneur Daniel Bessmert, former Commercial Director at Paypal and Head of Mobile in Visa. The transaction was supported by Proskauer Rose LLP, which was lead by partner, Andrew Wingfield.
Zash provides a B2B2C solution, which allows merchants and consumers to better interact and transact. It allows merchants to save costs and bring in more revenue by offering more B2C services. Essentially it’s a way for merchants to both sell products at their retail location in addition to online (Omnichannel).
Together with the acquisition of CR7 Services at the end of 2019 and the acquisition of Zash AB, DNA’s vision has become a reality: to make payment services fair and simple and help promising businesses thrive. Zash’s solution will be fully integrated into DNA’s service proposition, significantly adding value to our shared clients and will allow our customers to focus on growing their businesses. As part of the deal, Daniel Bessmert is joining DNA Payments as a Chief Commercial Officer.
Daniel Bessmert, Zash’s Founder and CEO, commented:
“It is very rare, that you can find a better business fit, than between DNA Payments and Zash. Our company cultures, business segment and value propositions are extremely aligned and it is such a rare 1+1=3 scenario that is very hard to find in the Fintech space.”
