Fintech Startup Param Receives Investment Over $200 Million Valuation

Param received one of the most important investments in the financial technology sector, with a valuation of over $200 million in the first round, in which the European Bank for Reconstruction and Development (EBRD), CEECAT Capital, Alpha Associates and Revo Capital participated.

Under the Param brand, Turkey's first electronic money institution, TURK Electronic Money Inc. brand provides financial services to its corporate and individual customers with accounts, wallets, prepaid cards, virtual POS, physical POS domestic and international money transfer products. It has been the Fintech of firsts since the day it was founded, with its fully Turkish capital and expert staff. Param became the first non-bank member of the Interbank Card Center (BKM) and the first non-bank institution to receive a license under the Bank and Credit Cards law. Param continues its activities with over 600 employees.

Param offers special financial solutions to the unique needs of the sectors with its 138 different co-branded card programs. In the last 12 months, 5.4 million Card users, 90,000 merchants, and 12,000 advantageous shopping points have made transactions worth 36 billion TL.

In 2021, Eçözüm Information Technologies Inc., Turkey's largest collection system and open banking company, acquired the majority stake. Recognition and reward system company Momento Advertising and Marketing Inc. Param continues to strengthen its products and services with its investments.

Param has one of the best infrastructures in Turkey in the field of fintech. The service carries out all its developments in its technology and innovation centers in Ankara and Istanbul. 60% of Param's employees are women, and 63% of its senior management consists of female managers. Param continues its growth in Turkey after its first investment round. On the other hand, it aims to carry the quality products and services it offers to a global scale.

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“We are creative, we are fast, we work hard, we never give up, we are much stronger together with our partners who join us and our first target is Europe”

The Founder and Chairman of the Board of Param Emin Can Yılmaz talked about the international investment success of Param in the first round:

EBRD Private Equity Co-Chair İlker Yöney said the following about Param:

The EBRD is one of the important investors in Turkey. Since 2009, it has invested more than 16 billion Euros in various sectors of the country's economy through 373 projects. The EBRD's portfolio of over 7 billion Euros in Turkey is the largest of the 38 economies in which the Bank has invested.

Anthony Stalker, head of CEECAT Capital, added: