Sipay, an Istanbul, Turkey-based provider of a payment and embedded finance platform, raised $78M in Series B Funding, at over $875M valuation.
The round was led by Elephant VC, with participation from Nik Storonsky’s VC firm QuantumLight.
The company intends to use the funds to establish new partners and networks in emerging markets as it looks to accelerate its expansion internationally.
Founded in 2019 by CEO Nezih Sipahioğlu, Sipay designs financial products and services that comprehensively address the needs of businesses and individuals. The business platform enables companies to manage and monitor their entire financial landscape from a single point, with innovative payment solutions, embedded finance, FX transactions and more. Sipay Personal is a money app for managing digital wallets, investments and loyalty schemes.
Since its launch, Sipay has facilitated 100m transactions, working closely with partners including Visa and Mastercard. Its broad customer base spans traditional banking institutions and industrial businesses to technology champions. These include QNBpaym Hepsipay, as well as large international groups like Alibaba-owned Trendyol.
FinSMEs
08/04/2025