Pollen Street Capital, a London-based, independent, alternative investment management company, has acquired a majority stake in Ding, a mobile top-up service provider, in partnership with a substantial investment from the existing founder and CEO Mark Roden. The transaction is expected to complete in September.
Ian Gascoigne, partner at Pollen Street, said, “We are delighted to welcome Mark and his team to the Pollen Street portfolio. Ding has demonstrated an impressive track record and we look forward to partnering with the team to accelerate this growth and maximizing the potential of Ding’s multi-channel top-up ecosystem during our investment period. Ding exemplifies Pollen Street’s investment strategy of identifying market leading technology businesses, whose propositions can be enhanced through further investment into technology and an increasing use of data. Ding also represents our commitment to Invest With Impact. As a global platform that connects friends, family, and dispersed communities across the world, Ding allows its customers to send mobile credit and data through a simple, safe, and convenient top-up service. In doing so, Ding fosters closer links and community ties between its users whilst promoting financial inclusion and global connectivity through its highly accessible and easy to use platform.”
Roden commented, “We are delighted to announce the investment by Pollen Street Capital. The addition of a strategic investor to our company marks an important milestone for Ding and sets us up for significant growth. Sixteen years ago, we set out with a mission to solve a real problem, to simplify how people separated from their loved ones could stay connected to those back home. At that time, the process was cumbersome and inefficient and today through Ding’s platform we have transformed how people stay connected. We are proud that we are now the global leader and have earned the trust of millions of customers all over the world.”
Ding was advised by Jefferies, Davis Polk, A&L Goodbody, KPMG and PWC. Pollen Street was advised by Keefe, Bruyette & Woods (a Stifel Company), McCann FitzGerald, Buckley and Deloitte.