The European Bank for Reconstruction and Development (EBRD) and Goldman Sachs have agreed to invest in DgPays, Turkey’s leading financial technology provider.
The transaction, subject to regulatory approvals, will represent one of the most significant foreign investments in Turkey’s fintech sector to date, said a joint statement issued on March 22.
DgPays is a pioneer among Turkish fintech companies and has grown rapidly.
“This partnership will catalyse our strategy of expanding our product and service offerings in line with international trends and introduce the novel and high-tech products,” said Serkan Omerbeyoolu, founder and CEO of DgPays.
“As a shareholder, the EBRD will be committed to support Omerbeyoglu and his team in their mission and in scaling the company to a leading position in the Turkish fintech space,” said Maria Barsuk from the EBRD’s Venture Capital Investment Programme.
Founded in 2017, payments systems company DgPays has a solutions and service ecosystem consistingof 24 institutions made up primarily of banks, e-money companies, logistics companies, 55mn debit/prepaid cards and 23,000 ATMs and POS machines used by nearly 300,000 merchants.
In August last year, it took a majority stake in ZUBIZU, Turkey’s largest loyalty programme, owned by Dogus Group.
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