ROYAL PARK PARTNERS ADVISES DUNEDIN
ON ITS INVESTMENT STRATEGY IN
GLOBAL PROCESSING SERVICES

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Overview of the transaction

As part of its engagement, Royal Park Partners has supported Dunedin by assessing new and precedent transactions in the Fintech sector, in addition to leveraging its broad network of Fintech connections.
 

This engagement highlights Royal Park Partners’ extensive experience in the global payment space

Overview of Dunedin

  • Dunedin first invested in GPS as part of a £44m fundraise in 2018​.
     

  • GPS’ API-first payment technology platform enables innovative card programmes for leading fintechs, digital challenger banks and embedded finance providers​.
     

  • Its platform has helped scale multiple unicorns and powers a vast array of prominent fintechs across Europe, Asia-Pacific, and the Middle East, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy.

  • Through a single unified code base, GPS enables its customers and partners to launch and scale card programmes across 48 countries, supported by integrations with over 95 issuers​.
     

  • To date, it has issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions on its cloud-based platform.

Royal Park Partners' role

  • Royal Park Partners acted as strategic advisor to Dunedin Buyout Fund III L.P., assisting Dunedin with the terms of the recapitalisation.
     

  • The recapitalisation involved bringing in Advent International (“Advent”) and Viking Global Investors (“Viking”), both of which have successful track records in investing in payments and software businesses​.
     

  • GPS will use the investment to accelerate its investment in technology and product innovation, and expand its customer base across Europe, Asia-Pacific, and the Middle East.

Disclaimer

The information contained in this document and any communication or documents or other materials distributed at or in connection with the document (together, the "Presentation") is confidential and is being made to or directed to in the United Kingdom only to (i) persons who have professional experience in matters relating to investments (being "investment professionals" within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO")) or (ii) persons falling within Article 49(2) ("high net worth companies, unincorporated associations etc") of the FPO or (iii) persons who are otherwise permitted by law to receive it (all such persons being "Relevant Persons"). This presentation may not be disseminated, distributed or used without the prior written consent of Royal Park Partners and Sapia Partners LLP (the “Companies”). The information contained in the Presentation is not intended to be viewed by, passed on or distributed (directly or indirectly) to, any other category of persons. Any investment or investment activity to which the Presentation relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This Presentation must not be acted or relied upon by persons who are not Relevant Persons. Royal Park Partners is an Appointed Representative of Sapia Partners LLP, which is authorised and regulated by the Financial Conduct Authority.​
 

No undertaking, representation, warranty or other assurance is given, and none should be implied, as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information or opinions contained in the Presentation. The information contained in the Presentation is subject to completion, alteration and verification nor should it be assumed that the information in the Presentation will be updated. The information contained in the Presentation has not been verified by Sapia Partners LLP (“Sapia”) or any of its associates or affiliates. Opinions and estimates constitute the Companies’ judgment and should be regarded as indicative, preliminary, strictly non-binding and for illustrative purposes only. All example statements and any indicative terms and features of any solution given are strictly indicative and may be based on certain implicit and explicit assumptions which the Companies may or may not be able to disclose at the time of the Presentation and which will need verification in any specific case. ​
 

In particular, but without prejudice to the generality of the foregoing, any forecasts, opinions, estimates and projections contained in the Presentation constitute the judgement of the Companies and are provided for illustrative purposes only. Such forecasts, opinions, estimates and projections involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forecasts, opinions, estimates and projections. Accordingly, no representation or warranty (express or implied) is or will be made or given in relation to, and (except in the case of wilful fraud) no responsibility or liability is or will be accepted by the Companies or any of its directors, officers, employees, agents or advisers in respect of, such forecasts, opinions, estimates and projections or their achievement or reasonableness. Relevant Persons of the Presentation must determine for themselves the reliance (if any) that they should place on such forecasts, opinions, estimates and projections. Further, no representation as to the actual value which may be received in connection with a transaction is given, nor the legal, tax or accounting effects of consummating a transaction.​
 

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The information contained in the Presentation has not been approved by the Financial Conduct Authority. This Presentation does not constitute, or form part of, any offer of, or invitation to apply for, securities nor shall it, or the fact of its distribution, form the basis of or be relied upon in connection with any contract or commitment to acquire any securities. The information contained in the Presentation has been prepared to assist Relevant Persons in making their own evaluations and does not purport to contain all of the information that recipients of the Presentation who are considering acquiring or subscribing for shares, bonds or other securities may need or desire. In all cases, Relevant Persons should conduct their own investigation and analysis of the data in the Presentation. The Presentation should not be considered a recommendation by the Companies’ or any of its directors, officers, employees, agents or advisers in connection with any purchase of or subscription for securities.