Turkish fintech company Papara, which stepped into Europe by purchasing Neoban in Spain last year, is now preparing to acquire Pakistani fintech company SadaPay.
If the agreement is reached, Papara will pay $30 to $50 million for Sadapay.
Papara also plans to invest another $10 million in SadaPay to strengthen its position in the country.
This agreement is seen as a positive development for the Pakistani fintech industry.
SadaPay’s founders will continue to manage the company after the acquisition. Papara plans to invest in SadaPay’s technology and product development, which will also
The acquisition is expected to be completed in the first half of this year
SPANISH BOUGHT NEOBANK
Papara acquired Spain-based Neobank Rebellion last year. Within the scope of the Rebellion acquisition agreement, which was completed in June 2023, Papara took an important step in the process of expanding into Europe.
Source: Patronlardunyasi / Prepared by Irem Yildiz