DFJ Esprit Secondaries leads $16m Miura investment

The deal saw DFJES acquire a stake in the business from the company's founders, as well as a primary investment from DFJ Esprit's EIS funds.

The investment will be used to further the company's international expansion. According to Olav Ostin, managing partner of DFJES, the US is a key growth market for the company as the country is switching to chip and PIN payments later this year. Japan, Australia and the rest of Europe will also be targeted for further growth.

Company
Based in Stokenchurch, Miura Systems develops mobile point-of-sale (mPOS) payment systems. The company was founded by the team that created Dione, which was sold for $112m and is now part of VeriFone Systems.

Miura Systems sells in 45 markets globally, with clients including PayPal and iZettle. The company partners with software vendors and systems integrators to deliver platforms to enable retailers to offer flexible payment services.

People
Ian Rutland is CEO of Miura Systems. Olav Ostin is managing partner of DFJES and has joined Miura Systems' board.

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• Topics
• Expansion
• UK / Ireland
• DFJ Esprit