Following the purchase of Buy Now, Pay Later (BNPL) supplier Twisto, Turkish fintech company Param is entering the European market.

Twisto was previously owned by the international BNPL company Zip Co, which Param acquired for an undisclosed value. The deal gives the Turkish fintech company financial stability and expansion possibilities as it works toward becoming profitable in 2023.


Customers can currently send money internationally and within the UK through ParamUK, an electronic money institution that has received approval from the FCA. Following the acquisition, Param will be able to further increase its presence throughout Europe, starting with the Czech Republic and Poland, two of Twisto’s main countries, before moving on to Germany and the Netherlands as its next major market goals.

The European Bank for Reconstruction and Development (EBRD), CEECAT, Alpha Associates, and RevoCapital are just a few of the worldwide private equity firms and funds that support Param. In addition to payment solutions, open banking, customer loyalty, wallet services, prepaid cards, collections, and its own BNPL service and SME lending business named Kredim, it provides a variety of embedded finance solutions to SMEs and large companies.

More than 85,000 merchants are served by Param and Twisto together. Major companies in Turkey, like Shell, Michelin, Getir, Panasonic, Burger King, and IKEA, use Param as their preferred payment partner. In the meanwhile, international companies including Answear, Allegro, KFC, and Pizza Hut are among Twisto’s clients. The acquisition will not have an effect on Twisto’s business operations, current alliances, or management group. The emphasis will be on offering customers, merchants, and partners better products and services and on looking for new synergies with Param clients.

“A convergence of ideas”

“Europe is a core focus for us as we continue our bold, yet healthy and sustainable, expansion strategy,” stated Emin Can Ylmaz, founder and CEO of Param.

We are thrilled to launch our technology and embedded financial solutions in eight European markets because our tried-and-true business strategy and creative solutions have already established a gold standard. The acquisition not only offers us the chance to strengthen our position within the fintech sector, but it also signifies a coming together of brains. Twisto already holds the top spot for Buy Now Pay Later (BNPL) services in the Czech Republic thanks to a powerful, recognizable, and well-known brand.

Twisto prioritizes the needs of its customers and constantly innovates to provide dependable, value-adding goods to its clients. The Group, the founders’ vision, and the business model of Twisto all significantly overlap.

The most valuable fintech company in Turkey, Param is very successful and has generated positive EBITDA since its founding in 2014. TTV for the business increased by 90% year over year in the 12 months leading up to June 2023 and reached over €4.2 billion.

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