Papara Becomes Turkey’s First Fintech Unicorn

Turkey’s Papara became the country’s first fintech firm to reach unicorn status following a recent deal with Spain’s Beka Finance SV SA.

Beka last week received an undisclosed amount of cash and shares in the Istanbul-based firm in exchange for the acquisition of Papara’s Spanish rival Rebellion, which offers mobile banking services such as money transfers, prepaid cards and cash-back.