The Middle East’s first ‘dragon’, TPAY Mobile acquires 100% of Turkey's Payguru, in a move to become the biggest digital payment platform in the region.
Born in Egypt and now headquartered in the UAE, digital payment platform TPAY Mobile has announced that it has acquired Turkish company Payguru, in a move that’s set to see TPAY Mobile dominate the sector in the MENA region. TPAY Mobile is already the region’s leading digital merchant acquirer, enabling payments acceptance from over 50 mobile payment types and wallets, which are connected to over 580 million consumers, through a single integration.
Turkey’s Payguru offers direct carrier billing through three mobile network operators and bank transfer and ATM payments through eight major banks. Payguru currently has over 1300 merchants on its platform and has processed over 13 million transactions in the past 12 months. The acquisition is a major stepping stone for TPAY Mobile, helping it expand into new markets and territories.
Sahar Salama, Founder and Chief Executive Officer of TPAY Mobile, says: “TPAY Mobile is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region. This transaction extends our footprint in the region, continues our diversification into new business lines and also significantly strengthens our value-added services proposition in the region. The regional and global fintech sector is at an inflection point for growth, making this the perfect time to welcome Payguru into our fold.”
TPAY Mobile made international headlines in 2019 when its original investors, Egypt’s A15, sold its 76% stake in the company to Africa’s leading private investment firm, Helios Investment Partners, marking the MENA region’s first ever ‘dragon’ exit.
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