- 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.
![Turkish challenger Papara reportedly set to acquire digital wallet fintech SadaPay Turkish challenger Papara reportedly set to acquire digital wallet fintech SadaPay](https://www.fintechinshorts.com/wp-content/uploads/2024/03/pexels-thisisengineering-3861964.jpg)
Turkish challenger Papara reportedly set to acquire digital wallet fintech SadaPay
Hot this week
Blogs
Banking as a Service: Meaning, Examples, Benefits and Future
The push for open banking has led to a...
Blogs
Best fintech blogs and websites
Fintech (financial technology) has been an interesting part of...
Blogs
Is it worth investing in life insurance over 60?
Is it worth investing in life insurance over 60?
As...
Topics
Banking
Morgan Stanley buys stake in UK business payments start-up Sokin
Key Points:Acquisition Details:Morgan Stanley has acquired a...
Banking
New wealthtech start-up Waltz launches US real estate investment platform
Key Points:Launch Objective:Enable foreign investors to invest...
Banking
HSBC India partners with Open Financial Technologies to launch FinConnect for business clients
Key Points:Partnership Objective:Simplify payment processes for HSBC's...
Banking
FCA issues new guidelines to ensure cash access for consumers and small enterprises
Key Points:Objective:Ensure "reasonable access" to cash deposit...
Banking
Social trading app Shares set to exit UK market
Key Points:Market Exit:Shares is set to exit...
Banking
UniCredit set to acquire Aion Bank and BaaS provider Vodeno for €370 million
Key Points:Acquisition Agreement:UniCredit has signed a binding...
Banking
Kenya’s Diamond Trust Bank taps Network International for digital payment solutions
Summary of Diamond Trust Bank (DTB) and Network International...
Banking
Rabobank taps Zafin to upgrade pricing, billing and invoicing capabilities
Key Points:Partnership Announcement:Rabobank has partnered with Zafin,...