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HomeBankingTurkish challenger Papara reportedly set to acquire digital wallet fintech SadaPay

Turkish challenger Papara reportedly set to acquire digital wallet fintech SadaPay

Date:

  • 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.

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