Sipay - One-Stop Payment Solution for Emerging Markets
Sipay is revolutionizing payments in emerging markets with a comprehensive platform for card payments, wallets, and more. With 25,000 merchants and 6.3 million users, they've achieved profitability and remarkable growth, backed by significant Series B funding.
Payments break when the market is messy.
Sipay is building the “Stripe for emerging markets” playbook from Türkiye, with one platform that does card payments, wallets, POS, open banking, transfers, and prepaid cards for both merchants and consumers.
It’s not just software. In 2024, Sipay secured an acquiring license from the Central Bank of the Republic of Türkiye, then scaled processing with a Nestpay Torus integration, moving from “payment aggregator” vibes to real rails and margin control.
Traction is loud: 25,000 merchants and 6.3 million wallet users, plus claims of profitability since 2023 and 5x revenue growth year over year, with a reported run-rate of $600M.
On April 8, 2025, they raised a $78M Series B at about an $875M to $877M valuation, led by Elephant, with participation from QuantumLight, the VC founded by Revolut CEO Nik Storonsky. The earlier $15M Series A in June 2024 was led by Anfa.
Founder and CEO Nezih Sipahioğlu is selling a simple thesis: in emerging markets, merchants don’t want five vendors for cards, wallets, FX, and payouts. They want one accountable stack, priced per transaction, with acquiring economics and cross-border upside. FinBox Solutions picked Sipay because that bundle tends to win when compliance and payment performance decide who gets the checkout.
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If you were expanding outside Türkiye, would you bet on “one stack for everything” or start with a single wedge like acquiring only?
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