Sipay is a Turkish fintech that operates an all-in-one app for digital wallets, investments and loyalty schemes while offering embedded finance, FX transactions and white-label card and wallet issuance. The company integrates with Turkish banks and large e-commerce partners such as Trendyol, and works with Visa and Mastercard. Founded in 2019, Sipay says it has 6.3 million wallet users and 25,000 registered merchants. It claims to have been profitable since 2023, with revenue up 5x year-over-year and a year-end run-rate of $600 million. Sipay plans to expand its Stripe-like services into markets outside Turkey and add products such as remittances that are not widely offered by Stripe in those regions. Sipay is a Turkish fintech that provides offline and online payment services, wallet services, and a modular platform for payments. The company was founded in 2019 and is headquartered in Istanbul. Its customer base includes banking institutions, industrial and retail businesses, technology firms such as Hepsipay and Yemeksepeti, and international groups like Alibaba-owned Trendyol. Deloitte identified Sipay as the fastest-growing fintech in Turkey after reporting 10x year-on-year growth. Sipay raised a $15M Series A to advance product development and support local and international expansion. CEO Nezih Sipahioğlu said the company remains committed to building a comprehensive financial marketplace.

Total raised

$93M

Funding rounds

2

Latest round

Series B

Latest activity

Apr 2025