Turkish fintech firm Sipay introduced Tuesday it raised $78 million in a Series B funding spherical, claiming the standing of the “most valuable” fintech in Türkiye because it approached a step nearer to a $1 billion valuation mark, thus probably turning into a unicorn.
“We are thrilled to announce the successful close of our $78 million Series B funding round, bringing our valuation to over $875 million – officially making Sipay the most valuable fintech in Turkey,” the Istanbul-based firm mentioned in a social media submit.
It added that the spherical was led by Elephant, with participation from QuantumLight, the VC agency based by Revolut CEO Nik Storonsky.
“With this momentum and support, we will accelerate our international expansion, advance our embedded finance technologies and continue building the financial infrastructure of the future,” it additional mentioned.
Founded in 2019, Sipay is an progressive fintech firm that designs services and products tailor-made to fulfill the monetary wants of companies and people. It gives a platform the place firms can handle and monitor their total monetary panorama from a single level, guaranteeing neutral entry to all monetary choices, in response to the corporate.
In a press release Tuesday it mentioned it constructed “a thriving ecosystem” with 6.3 million pockets customers and 25,000 retailers over the previous yr whereas reaching $7.4 billion in transaction quantity.
Source: www.dailysabah.com