Turkish fintech Param, Turkey's has acquired Czech buy now pay later provider Twisto, from Zip Co, in its bid to expand further across Europe and push Twisto towards profitability. There will be an initial focus on the UK, German, Dutch, Czech and Polish markets and the European licences that come with Twisto will enable this move.
“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," says Emin Can Yılmaz, Founder and CEO of Param.
"Twisto already claims the number one position in Buy Now Pay Later (BNPL) services in Czechia with a strong, recognisable, and top-of-mind brand awareness. Twisto puts consumers at the core of its business and continuously innovates to deliver reliable and value-adding products to its customers. There is a significant overlap between Twisto’s business model, the Founders’ vision and the Group,' he adds.
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