US paytech Choice brings on Nexa Equity as majority investor, acquires DPC
Fintech-focused private equity firm Nexa Equity has acquired US paytech Choice, which in turn has acquired fellow payments company Direct Payment Consultants (DPC).
Choice CEO John Paul Golino
San Francisco-based Nexa Equity, which focuses on scaling lower to middle-market software and fintech businesses, is now a majority investor in Choice.
Post-acquisition, the founding teams of both Choice and DPC will each continue to hold a meaningful stake in the combined business.
Nexa founder and managing partner Vlad Besprozvany says the firm will scale the Choice platform through both “organic initiatives” and strategic acquisitions such as DPC, with the investment from Nexa going towards building out Choice’s go-to-market team.
Choice CEO John Paul Golino says the paytech is “laser focused” on providing comprehensive omnichannel payment solutions. “Our acquisition of Direct Payment Consultants will enable us to execute on this vision even further,” he adds.
As a combined entity, Choice says its platform will process more than $3 billion in annual payments volume from more than 7,000 customers in the US and Canada.
The company’s platform integrates into software vendor technology stacks, enabling embedded payment monetisation along with fraud management tools, analytics and comprehensive reporting for independent software vendors (ISVs) and their merchants.
The acquisition of DPC, which partners with merchants to help them accept all major payment cards, will expand Choice’s product offering in the payments space.
