Papara
Who is?
Papara is a Turkey-based electronic money and payment services company operating in the field of fintech. It is a commission-free financial application that allows you to shop safely, send and receive money all over the world via the internet.
The company received permission from the Banking Regulation and Supervision Agency in April 2016 to operate as an “Electronic Money Institution” and it started its operations in August 2016. As a member of Mastercard, Visa and Interbank Card Center, it has produced a prepaid card with the Mastercard logo for the first time in Turkey that is not dependent on a bank. The company has a team of 500 employees and 17 million users. [1]
Papara was selected as the “Endeavor Entrepreneur” at the International Selection Panel organized by Endeavor, one of the world’s most prestigious enterprise and entrepreneur networks, between 13-15 July 2020, and the company became the 68th enterprise selected from Endeavor Turkey.[2] Papara was selected as the ‘Fintech Company of the Year’ at the Webrazzi Awards 2020, where nearly 1 million votes were cast. Additionally, the company ranked second in the ‘Entrepreneurship of the Year’ category, and the company’s founder and CEO Ahmed Faruk Karslı ranked third in the ‘Entrepreneur of the Year’ list. [3]
Papara acquired Spain-based neobank company Rebellion with the aim of becoming a global player. Within the scope of the Rebellion acquisition agreement, which was completed in June 2023, Papara took an important step in the process of expanding its activities into Europe. With this acquisition, the value of the company exceeded 1 billion dollars and Papara became Turkey’s seventh unicorn company.[4]
[1] https://www.papara.com/about-us
[2] https://endeavor.org.tr/endeavor-turkiyenin-68-girisimi-papara-oldu/
[3] https://www.bthaber.com/papara-yilin-fintech-sirketi-secildi/
[4] https://www.webtekno.com/papara-unicorn-oldu-h135734.html
