Business

Turkish fintech firm Papara acquires Pakistan-based SadaPay

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Staff Reporter

2 years ago

Turkey’s leading fintech, Papara, which has reached 20 million users, has expanded into South Asia through the 100 percent purchase of SadaPay. This strategic move follows Papara’s recent European expansion through the acquisition of Spanish Rebellion in 2023.

Papara’s acquisition of SadaPay, marks a significant strategic expansion into the Middle East and South Asia markets, reinforcing its position as a key player in the global financial technology sector.

Papara CEO Emre Kenci highlighted his company’s rapid vertical and horizontal growth: “This acquisition marks one of the most significant fintech investments in the country in recent years.

We aim to position SadaPay as the leading fintech player in the region by bolstering its innovative and bold initiatives with Papara’s business know-how, robust technology, and user-centric culture. SadaPay will continue its growth journey with its brand.”

Elaborating on the future, Emre Kenci said, “Pakistan’s future star status is predicted on the back of its population growth, which could place it among the largest economies in the world in the next 50 years.”

He further emphasized that Papara will steadfastly pursue its vision of turning instability into stability, losses into gains, obstacles into advantages, volatility into resiliency, and burning money into profitable growth.

Staff Reporter