Turkey Fintech Giant Param Enters European Market with Acquisition of Czech BNPL Provider Twisto

​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.

The acquisition will not impact Twisto's operations, existing partnerships, or management team. The focus will be on providing more enhanced products and services, and exploring new synergies with Param customers.

Emin Can Yılmaz, Founder and CEO of Param, said: "Europe is a core focus for us as we continue our bold, yet healthy and sustainable, expansion strategy. Our proven business model and innovative solutions have already set a gold standard, and we are excited to introduce our technology and embedded finance solutions to eight European markets. Not only does the acquisition give us the opportunity to expand our position in the FinTech ecosystem; but it also represents a meeting of minds."

Source: Businesswire