Jaja Finance in a £120 million secondary deal backed by KKR and TDR Capital.

Jaja Finance, a London, UK-based financial service provider, announced getting into an investment agreement closed at £120 million ($157 million).

The deal was made for selling equity in the company to the private equity firms KKR and TDR Capital LLP, which will become majority shareholders in the company.

The transaction was announced in November 2021 and was closed in April 2022.

Jaja Finance, founded in 2015 by three Norwegian entrepreneurs Per Elvebakk, Jostein Svendsen, and Kyrre Riksen and led bY CEO David Chan, provides digitally-led credit card products with a focus on simplicity, functionality, service and security. It is regulated by the FCA, and has done a partnership with the Bank of Ireland in June 2019, in order to accommodate Bank of Ireland UK and AA Credit Card customers onto its new credit card platform in October 2020, transferring historical Post Office Credit Cards to new Jaja Credit Cards.