Observed Signal · Jun 5, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Turkish fintech Sipay secures $15M
Turkish fintech Sipay, which offers online and offline payment services, wallet services, and a modular financial platform, has raised a $15 million Series A round led by Anfa, a global investment firm. The funds will support product development and local and international expansion. Founded in 2019 and headquartered in Istanbul, Sipay was recently named by Deloitte as the fastest-growing fintech in Turkey with 10x year-on-year growth. The round also included participation from angel investors, among them fintech founders such as Jitendra Gupta, Amrish Rau, Kunal Shah, Ravish Naresh, and Edward Lando. Sipay's customer base spans banking institutions, industrial and retail businesses, and technology companies including Hepsipay, Yemeksepeti, and Alibaba-owned Trendyol. CEO Nezih Sipahioğlu said the funds will help realize its mission of building a single worldwide financial marketplace.
Series A funding for a Turkish payment platform strengthens regional fintech and e-commerce infrastructure but has limited direct impact on the global AdTech industry.
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Key Takeaways & Evidence Grounding
- Sipay raised $15 million in a Series A round led by Anfa.
- The funding will be used for product development and local/international expansion.
- Deloitte identified Sipay as the fastest-growing fintech in Turkey, citing 10x year-on-year growth.
- Sipay's customers include Hepsipay, Yemeksepeti, and Alibaba-owned Trendyol.
- Angel investors including fintech founders Jitendra Gupta, Amrish Rau, Kunal Shah, Ravish Naresh, and Edward Lando participated.
Connected Companies & Entities
3 Entities mapped“Sipay, which was founded in 2019, was recently identified by Deloitte as the fastest-growing fintech in Turkey due to its 10x year-on-year g...”
“Headquartered in Istanbul, Sipay has a customer base that includes banking institutions, traditional industrial and retail businesses, techn...”
“Headquartered in Istanbul, Sipay has a customer base that includes banking institutions, traditional industrial and retail businesses, techn...”
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