Press Release

Springboard Corporate Finance is pleased to announce that it has advised on the sale of CR7 Services to DNA Payments.

CR7 is a fintech business, with pan-European reach, that provides mission critical, real-time services for the secure processing of complex payment data on behalf of millions of consumer-to-business transactions every month. CR7 has deployed c. 36,000 payment terminals within the UK market via its operating companies - Optamany and 123Send and provides short term hire via 123Hire.

CR7, an investee company of Livingbridge, has developed a 'next generation', rapidly scalable processing platform and proprietary payment software that allows merchants to accept payments in a variety of retail environments as well as enabling acquirers to process payments from emerging card schemes such as China UnionPay.

DNA Payments is an ambitious new entrant to the UK payments market, offering SME merchants unrivalled service at a highly competitive price. It is committed to building a transparent business model, so that customers can easily track their money at each stage whilst it is being processed using fast and efficient technology.

The acquisition gives DNA Payments a significant foothold in the UK payments sector and will capitalise on CR7's accelerating growth in the SME market. The technological synergies will allow DNA Payments to provide SME merchants with a one stop shop for state of the art products and services.

CR7's Chief Executive, Adrian Wilding, commented "We are extremely proud of what we've achieved in just a few short years and we were ready for the next stage of accelerated growth. DNA brings with it the talents of its operating board, its experience in payments, and has confirmed its commitment to our independence of operation."

Springboard Partners Simon Ward and Ben Bolt and Manager Jamie Berry advised the shareholders on the sale. Simon commented "The CR7 team has built an exciting business that is positioned for continuing UK and global growth. Partnering with DNA will deliver significant opportunities for the enlarged group."

THE CLIENT ON SPRINGBOARD
"Ours is a complex and exciting business but Springboard fully understood our potential value to a variety of global partners and engaged appropriately. They worked tirelessly to ensure the sale to DNA was delivered." - Adrian Wilding, Chief Executive Officer, CR7 Services


ABOUT SPRINGBOARD
We are a market leading independent minded corporate advisory firm focused on providing strategic, commercial and financial advice and support to a range of clients. We focus exclusively on the following services:
• Acquisitions - supporting corporates and management teams – identifying targets and executing deals
• Disposals - Full or partial business sales and exits
• Raising finance - working capital or development capital – typically debt or private equity/venture capital
• Management / Retained advisory - strategic, commercial and financial support