back Back

Papara reaches ten million users on fifth anniversary, eyes expansion

By Leandra Monteiro

October 08, 2021

  • Europe
  • FinTech
  • Money Transfer

Papara Turkish FinTech Papara announced that it has hit the ten million customer milestone, coinciding with its fifth anniversary since being founded in August 2016.  Active in a Turkish financial market that hasn’t adequately served customer needs, Papara has grown to become the largest FinTech in Turkey in recent years and one of the largest in the wider region. Its mission is to level the financial playing field and leverage its digital platform to provide financial freedom across the market and give people the chance to manage their money in the way that suits them best.

The FinTech Company is a Financial SuperApp that provides instant, free, multi-currency transfers for its users. The FinTech offers consumers a one-stop shop for paying bills, trading digital currencies, and tracking their spending habits, while being able to use the Papara Card around the world to make cross-border transactions with no fees. For businesses, Papara also facilitates mass-payment, proving a corporate card that can be tailored to facilitate varying spending patterns and enables a secure check-out option for merchants. Founded in 2016, Papara has since been completely bootstrapped, with no external investment to date.

The Company has experienced notable growth since its inception, with a 106% year-on-year increase in registered users and active user growth of 71%. Amid such growth, Papara has continued emphasis on developing new features to enhance the customer experience such as global money transfers, spending management tools and IBAN screening. Having successfully established a leading presence within the Turkish FinTech market, Papara is set to continue adding to its user base and expand into Eastern Europe.

Ahmed F. Karslı, founder and CEO of Papara comments on the achievement, “Reaching over 10 million customers is an incredible milestone and wouldn’t have been possible without the brilliant work of our dedicated team and passionate users. We’re proud to be supporting customers of varied backgrounds to create an equal, fairer financial system. That said, this is only the beginning for us here at Papara. We have plenty of exciting initiatives and product features in the works which we’re excited to share with our users, and we look forward to welcoming our next set of ten million users to the Papara family.”

Previous Article

October 08, 2021 launches B2B BNPL to help Indonesians SMEs ramp up

Read More
Next Article

October 08, 2021

Skyflow launches FinTech Data Privacy Vault

Read More

IBSi Daily News Analysis


July 19, 2024


SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Ecommpay & Mastercard partner to deliver Click to Pay in Europe

Read More

July 19, 2024

Sopra Banking Software partners with Finom

Read More

July 19, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024