Sipay, a company that claims to be the fastest-growing Fintech in Turkey, is reporting a $15 million Series A funding round.
Sipay states that investors participating in the round include 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. The round was led by Anfa.
Sipay is a payments and digital wallet provider. The new money is expected to support expansion both locally and globally. Clients include enterprises, banking institutions, traditional industrial and retail businesses.
Founded in 2019, Sipay has been recognized by Deloitte as the fastest-growing Fintech in Turkey. As of April 2024, it had booked a year-over-year growth rate of more than 10x and projected run-rate revenue of $300 million for the year. The company has also reported profitability since the beginning of 2023.
The investment round, which attracted significant interest from angel investors, saw participation from numerous experienced investors, including 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.
Nezih Sipahioğlu, founder and Global CEO, said they remain committed to the mission of empowering businesses and individuals by offering a range of financial products and services to address their needs.
