Vitruvian Partners Leads Funding Round For Dojo Ro Rasie $190 Million

UK-based fintech Dojo has announced the completion of a funding round. The company stated that it raised $190 million from the funding round as it prepares to expand its operations across additional regions. The extra funding means Dojo has now raised a total of $610 million.

The funding round drew interest from several top industry players, with Vitruvian Partners leading the round.

The digital payments firm provides a wide range of services to its customers. These include investment opportunities and banking facilities. Additionally, the company provides users with avenues to diversify their investments and grow their funds by offering a wide range of products through savings and lending.

Dojo will use the additional funds to expand its operations

Dojo has not hidden the fact that it wants to expand and reach a broader market. The firm stated that it will utilise the additional funding for its expansion strategy, both domestically and internationally. Dojo said it will continue to develop new products while expanding its digital presence across several jurisdictions. The platform wants to become the primary hub for all financial needs.

Dojo was launched in 2021 to offer both physical and digital payment solutions. Its proprietary cloud-native payment solution has enabled the firm to expand its user base. It now processes more than 35 million transactions weekly and serves over 140,000 businesses.

Dojo’s platform integrates with over 450 EPOS systems to provide its core services, as well as other services, including booking management software and business funding.

The company now has a workforce of more than 1,200 employees across seven offices. According to the firm, the plan is to reposition itself in the digital payments industry as it sees an ongoing fundamental shift toward integrated and embedded payments.

Dojo undertakes A Recruitment Drive For Expansion

Stephen Byrne, a partner at Vitruvian Partners, commented on the funding round. He said the team is excited about the prospects of Dojo. With the company’s payment infrastructure and the additional funding, there is room for more growth and expansion, offering a seamless payment solution for users.

The funding is the first equity Dojo has raised in its 4 years history. It will be used for its European expansion, as the firm hopes to expand into countries such as Spain, Italy, and Ireland, where it already maintains operations.

Dojo is also conducting a recruitment exercise to recruit new staff to join its operations. The company says it has openings across its European offices for data scientists, product designers, software engineers, and other positions.