DKK Partners, the leading provider of FX liquidity in frontier and emerging markets, has been recently announced as the ‘Leading Provider Of Foreign Exchange (FX) Services UK 2023’. The fintech company also announced a circa 60 percent growth in revenue in 2022, surpassing GBP 100 million, up from GBP 63 million the previous year. Fuelled by its global expansion, opening new offices in Ghana, Dubai, Cameroon and Ivory Coast, DKK has increased its client base by 250 per cent over the past 12 months, providing FX liquidity in emerging and frontier markets to enable fast and simple transactions for customers.
DKK is FX liquidity market maker, providing 24-hour global access with a specialisation on frontier markets. DKK’s platform offers an alternative way to access G10 and emerging market currencies without relying on central banks. Their expanding range of products includes FX emerging market liquidity, FX hedging & risk management, and various channels for cross-border payments.
How it started
Founded in 2020 by Dominic Duru and Khalid Talukder, the emerging markets FX liquidity provider has generated annual revenues of more than £100m, up from £63m last year. The secret behind DKK’s success is the company’s ability to combine the latest trading technology alongside on the ground market intelligence.
Following many years of working in the banking industry, both founders saw a gap in the market. Talukder, previously of UBS, Citi & Deutsche Bank, and Duru of RBS and Citi, recognised that getting access to high quality FX and payments services was a major challenge for the majority of SMEs. It wasn’t just the lack of infrastructure that was a problem, many companies looking to trade in key markets like Africa found it difficult to develop clear strategies to do so.
DKK was founded to disrupt the market and liberate a whole new generation of companies, from ambitious businesses to established corporates. The company is tailored to enable customers to manage currency risk and develop sharp pricing. DKK’s package of services is framed around three key pillars of FX risk management, FX liquidity, and local collections.
A Unique Company Culture
The banking industry has long been plagued by the perception of a lack of diversity and bad publicity following the 2008 financial crash.
DKK was founded with a clear strategy to build an ambitious global workforce, bringing together people from all walks of life and all backgrounds. The company’s 30 fulltime employees come from a range of backgrounds, with team members spanning from London, Dubai to Ghana. The company’s founders firmly believe that the expanding team should truly represent the market it serves, giving the business a truly global outlook.
At its core, DKK wants to be far more than just a successful business. Last Christmas, the business donated £10,000 to homelessness charity Shelter and volunteered as part of several major street initiatives. This is the first of many major initiatives organised by the firm, which has a dedicated Corporate and Social Responsibility (CSR) blueprint, designed by its employees.
Praising DKK’s approach Sulayman Uddin, regional community fundraiser for London, Shelter said: “We are delighted that DKK Partners has chosen to support Shelter and join the Fight for Home. Every four minutes a household in England becomes homeless. Record high rents and soaring living costs mean many more people are at risk of being tipped into homelessness this winter. Funds raised from this event will help the housing and homelessness charity Shelter’s frontline services to continue providing free and expert help to anyone facing homelessness, as well helping to campaign for lasting change.”
Dominic Duru, Co-founder of DKK Partners said, “With interest rates soaring and the cost-of-living crisis putting huge pressure on people trying to make ends meet, it’s critical that London’s fintech community recognises its responsibility to those in need. We founded DKK with a clear mission statement to deliver first class services to our clients, but that’s only part of who we are, and this initiative is the first of many that will allow DKK to play a crucial role in supporting important causes and making a difference where it really counts.”
Khalid Talukder, co-founder of DKK Partners added: “We’re very proud to announce this initiative, designed to deliver real action to the frontline in the fight against homelessness. Shelter is an incredible organisation with dedicated volunteers, and the work they do protects the wellbeing of so many people.”
Disrupting the industry
DKK’s business model is all about brining something fresh to the market and empowering businesses to achieve their full potential. In addition to reaching over £100m in revenues after just three years of trading, the business has major plans for international expansion.
Last December, the company hired industry entrepreneur Sam Nti as a director, to open and lead the company’s Ghana operation, which will serve the African market. In February, the company opened a dedicated Dubai office to serve the middle East, led by entrepreneur Asia Salvatore. The company anticipates a doubling of its global headcount over the next 12 months, with future office openings in key countries across Africa due to be confirmed soon.
Commenting on the company’s success story, Khalid Talukder (pictured above), co-founder, said: “We set out to create a truly disruptive fintech company, that empowered our customers with a combination of the latest technology and market expertise. We also wanted to create a new kind of fintech business that leads the way on CSR, diversity and forward-thinking.
“The first three years have been an incredible journey, but we have so much more to do, and this is just the beginning,” he added.
Co-founder Khalid Talukder (FRSA) has also participated as a panellist in a range of parliamentary summits held within the House of Commons, offering his insights and market predictions for the future of the UK’s digital economy. This included predicting significant advances in blockchain technology driven by digital currencies, foreseeing widespread adoption in the UK.
DKK Partners is the winner of our 2023 Annual Awards