Private equity-backed TPAY buys Turkish payment firm

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TPAY Mobile, one of the MENA region’s fastest-growing direct carrier billing providers, has struck a deal to acquire a Turkish payment services provider. The deal gives TPAY, which is majority-owned by Helios Investment Partners, outright ownership of the business, Payguru, subject to approvals from Turkey’s central bank, and competition authority. The terms of the deal had not been made available to Africa Capital Digest by the time we went to press.

Founded in 2015, Payguru was the first mobile payment company to receive a license from the Turkish financial regulator. The company, which currently has over 1300 merchants on its platform, offers direct carrier billing through Turkey’s three mobile network operators as well as bank transfer and ATM payments through the country’s major banks. According to the company, Payguru processed over 13 million transactions over the past year.

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