Sipay, Europe’s fastest-growing fintech, raises $78m Series B, hitting $875m valuation

Turkey's Sipay Raises $78 Million in Series B, Valued at Over $875 Million - Fintechnews Middle East

Sipay, a payments and embedded finance platform based in Turkey, has raised US$78 million in a Series B funding round, bringing its valuation to over US$875 million. The round was led by Elephant VC, with participation from QuantumLight, the venture capital firm founded by Nik Storonsky. The company reported a fivefold increase in revenue year-on-year and closed the year with a US$600 million revenue run rate. This follows its US$15 million Seri…

Sipay, Europe’s fastest-growing fintech, raises $78m Series B, hitting $875m valuation

Sipay, the rapidly scaling Turkish fintech specialising in embedded finance and payment solutions, has raised $78 million in a Series B funding round, pushing its valuation beyond $875 million. The round was led by US-based venture capital firm Elephant VC, with support from QuantumLight, the investment firm founded by Revolut CEO Nik Storonsky. Recognised as Turkey’s fastest-growing fintech by Deloitte in both 2023 and 2024, Sipay has seen its …