Observed Signal · Jun 20, 2022 · Funding · Source: Trending Topics · Impact: 2/5 · Sentiment: Positive
Turkey's Fintech PARAM Valued at $200M in First Funding Round
PARAM Group, a Turkish financial technology company, announced its first institutional investment round, valuing the company at over $200 million. The round is led by CEECAT Capital, the European Bank for Reconstruction and Development (EBRD), Alpha Associates, and Revo Capital. PARAM, registered as Turk Elektronik Para AŞ, is Turkey's first approved e-money licensee and the first non-bank member of the Interbank Card Center. It operates 5.4 million cards across 138 B2B2C programs, serving more than 90,000 merchants, and offers issuing, acquiring, processing, lending, open banking, and loyalty solutions. The company recently introduced a more flexible BNPL approach. Founder and CEO Emin Can Yılmaz said the company grew threefold last year and employs over 600 people. Proceeds will support global expansion while strengthening its Turkey foothold.
Turkey's leading fintech secured its first institutional investment round at a $200M+ valuation, signaling growth in payments, BNPL, and open banking infrastructure, but it is a regional funding event with limited direct impact on the global AdTech industry.
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Key Takeaways & Evidence Grounding
- PARAM Group announced its first-ever investment round, valuing the company at over $200 million.
- The round is led by CEECAT Capital, EBRD, Alpha Associates, and Revo Capital.
- PARAM operates 5.4 million cards across 138 B2B2C card programs and processes payments for more than 90,000 merchants.
- PARAM is Turkey's first approved e-money licensee and the only payment institution issuing cards under four card schemes (Discover, MasterCard, Troy, VISA).
- Founder and CEO Emin Can Yılmaz said PARAM grew 3x last year and now employs over 600 people.
Connected Companies & Entities
2 Entities mapped“The round is led by institutional investors such as CEECAT Capital, the European Bank for Reconstruction and Development (“EBRD”), Alpha Ass...”
“The round is led by institutional investors such as CEECAT Capital, EBRD, Alpha Associates, and Revo Capital....”
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