Papara, a leading Turkish fintech unicorn, has announced the successful acquisition of Pakistan-based SadaPay. This strategic move marks a significant expansion for Papara, propelling them into the dynamic Middle East and South Asia markets.
Founded in 2019 by Brandon Timinsky, SadaPay has experienced phenomenal growth. It has established itself as one of the fastest-growing Electronic Money Institutions, reaching a milestone of 1 million users in record time.
SadaPay offers a range of user-friendly features including peer-to-peer money transfers, debit cards, and payment products, currently processing a significant $1.5 billion in annual payment volume. The company’s innovative spirit is further demonstrated by their introduction of the first numberless debit card in the Middle East and Asia region, in collaboration with Mastercard. These achievements solidify SadaPay’s position as a frontrunner in Pakistan’s ongoing financial transformation.
This acquisition comes as one of the most significant fintech investments in Pakistan’s recent history. Papara aims to leverage their expertise to further empower SadaPay. By combining Papara’s business know-how, robust technology, and user-centric culture with SadaPay’s innovative spirit, the aim is to solidify SadaPay’s position as the leading fintech player in the region.
This acquisition signifies Papara’s commitment to expanding its services and user base while contributing to financial innovation across a wider geographical landscape.
