Sipay, a fintech company based in Turkey, raises million in funding

Sipay, a leading Turkish fintech company specializing in both offline and online payment services, as well as wallet services and a modular platform, has recently secured a substantial M Series A funding round to support product development and facilitate both local and international expansion.

The investment was spearheaded by Anfa, a renowned global investment firm recognized for fostering long-term collaborations with exceptional entrepreneurs. Sipay, established in 2019, was recently acknowledged by Deloitte as the fastest-growing fintech company in Turkey, boasting an impressive 10x year-on-year growth rate.

Key figures in the fintech industry such as Jitendra Gupta of Citrus Pay and Jupiter, Amrish Rau of Pine Labs, Kunal Shah of CRED, Ravish Naresh of Khatabook, and Edward Lando of Pareto Holdings joined in the funding round, alongside support from various angel investors.

Based in Istanbul, Sipay caters to a diverse customer base including banking institutions, conventional industrial and retail businesses, prominent tech leaders like Hepsipay, and industry giants such as Yemeksepeti under Delivery Hero and Trendyol under Alibaba.

Nezih Sipahioğlu, Founder and CEO of Sipay, expressed his appreciation for the unwavering dedication and effort of his team, emphasizing the company’s commitment to empowering businesses and individuals worldwide through a comprehensive financial marketplace offering a wide array of financial products and services to meet their diverse requirements.

Idris Sami, Partner at Anfa, commended the Sipay team’s remarkable achievements with limited resources, expressing enthusiasm for the partnership between the two entities to drive further growth and success in the industry.