- Turkish challenger bank Papara is reportedly set to acquire SadaPay, a digital wallet provider based in Pakistan, in an all-stock transaction.
- The deal, potentially worth between $30 million and $50 million, has received approval from the State Bank of Pakistan.
- SadaPay will retain its team, structure, and operational autonomy after the acquisition, and will also receive an additional $10 million investment from Papara.
- This move aligns with Papara’s strategy to expand into new markets, following its acquisition of Madrid-based neobank Rebellion Pay in the previous year.
- SadaPay, founded in 2019, has raised $20 million in funding and offers digital wallets, international money transfers, business accounts, and Mastercard-issued debit cards in Pakistan.
