Sipay Türkiye raises $ 78 million to expand tape -like services to emerging markets

The bills themselves as a “tape of emerging markets” Sipay She raised a funding tour of series B of the B series of $ 78 million, with a rating of $ 875 million in this process.

This tour is important, like Sipay It plans to expand the markets outside Türkiye, and provides additional services such as transfers currently not provided by Stripe in those areas.

The US -based US -based shares tour led VC elephantWith the participation of the founder of Droclut Nik Storonsky’s VC, Quantum.

SiPay was founded in 2019, runs a multi -capable application to manage digital portfolios, investments and loyalty plans, provides built -in financing, FX transactions and other products. It works with partners including Visa and MasterCard, integration with Turkish banks as well as large e -commerce providers such as Trendyol in Türkiye. It has 6.3 million wallets and 25,000 registered merchants.

Sipay claims that it has been profitable since 2023, and its revenue has increased on an annual basis. The company says it ended last year with the revenue of the running rate of $ 600 million.

“Stripe sorted one problem, but there is no comprehensive solution in our markets,” said Nzih Sipahioğlu, founder and global CEO of Sipay. “That is why we have different products.”

He said: “Our services work as a white brand, similar to Solaris Bank in the United Kingdom, so any Findte who wants to issue his card or wallet can do this through the United States.”

He added that the startup paved its growth until June 2024, when it raised a $ 15 million financing round, which was led by ANFA.

“When the markets become more global, the SIPAY focus on border payment solutions will help to push international growth and trade,” said Peter Fallon, General Partner at Elephant VC.