A Birmingham-based payments and engagement technology provider has acquired an Atlanta-based company.
Dash Solutions acquired KyckGlobal, a financial technology company and payments platform, according to an Aug. 29 announcement.
KyckGlobal was founded by Ashish Bahl in 2018 and is backed by local venture capital firm TechOperators.
Bahl was also the founder of Harbor Payments and Acculynk, companies that were acquired by American Express and First Data (now Fiserv), respectively.
Financial details of this acquisition were not disclosed.
Since nabbing a $96 million investment from Edison Partners in 2021, Dash Solutions, formerly Prepaid Technologies, has invested in its tech platform, working to expand into new markets.
Dash Solutions and KyckGlobal had a partnership for several years before the acquisition. Dash Solutions says the purchase will strengthen its offerings of pay, rewards and incentives, expense management and corporate disbursements.
“We’re continuing to make major investments in our core solutions and technology to ensure we’re providing our customers and partners with innovative payment solutions that meet their pressing payments needs and that means continuously delivering cutting-edge features and configurability,” said Stephen Faust, CEO of Dash Solutions. “KyckGlobal’s platform is an outstanding complement to our existing digital and card-based offerings."
Through partnerships with Visa, MasterCard and Discover, Dash Solutions saw major growth over the past five years. It delivers billions in payments annually.
Keefe Bruyette & Woods was financial adviser to KyckGlobal throughout the deal.
—Erin Schilling contributed to this article.
