- Param, Turkey’s largest FinTech, has acquired Czech BNPL provider Twisto as it expands its footprint across Europe.
- Twisto’s European licences will empower Param to offer its wide range of embedded finance solutions across the market.
- Initial focus is on the UK, Germany, Netherlands, Czech Republic and Poland.
- EBITDA positive since inception, Param will also bolster Twisto’s path to profitability
- Param focuses on B2B2X – B2B to any end user – in Turkey and plans to introduce its comprehensive products to Europe enabling Twisto to broaden its product suite, attract more customers, and unlock additional sources of revenues by serving B2B2X across the markets as well.
ISTANBUL–(BUSINESS WIRE)–Param, Turkey’s biggest FinTech, is entering the European market with the acquisition of leading CEE Buy Now, Pay Later (BNPL) provider Twisto. Setting the scene for wider global expansion, Param is introducing its technology and integrated embedded finance products and services to Europe.
One of the first Czech FinTechs, Twisto was acquired from previous proprietor Zip Co for an undisclosed sum. The transaction reinforces the company’s future, providing it with financial resilience and opportunities for growth as it aims for profitability in 2023.
An FCA-approved electronic money institution, Param UK currently allows customers to make international and domestic transfers in the UK. The acquisition will enable it to expand its footprint across Europe, starting with Twisto’s core markets – Czech Republic and Poland – as well as Germany and the Netherlands as the next new markets.