Europe Paytech Trending

BNPL Fintech Param Sets Sights on European Expansion After Twisto Acquisition

Param, the Turkey-based fintech, is entering the European market following the acquisition of Buy Now, Pay Later (BNPL) provider Twisto

Param has acquired Twisto from its previous proprietor, global BNPL firm, Zip Co for an undisclosed sum. The transaction provides the Turkish fintech with financial resilience and opportunities for growth as it aims to achieve profitability in 2023.

ParamUK, an FCA-approved electronic money institution, currently enables customers to make international and domestic transfers in the UK. Following the acquisition, Param can expand its footprint further across Europe, starting with Twisto’s core markets: the Czech Republic and Poland; with Germany and the Netherlands set as its next new market targets.

Param is backed by a number of international private equity firms and funds including the European Bank for Reconstruction and Development (EBRD), CEECAT, Alpha Associates and RevoCapital. It offers a range of embedded finance solutions to SMEs and large corporations; including payment solutions, open banking, customer loyalty, wallet services, prepaid cards, collections and its own BNPL service and SME lending business called Kredim.

Combined, Param and Twisto serve over 85,000 merchants. Param is the preferred payment partner of major brands in Turkey, such as Shell, Michelin, Getir, Panasonic, Burger King, IKEA. Meanwhile, Twisto’s customers include international brands including Answear, Allegro, KFC and Pizza Hut. The acquisition will not impact Twisto’s operations, existing partnerships, or management team. The focus will be on providing more enhanced products and services to clients, merchants and partners, and exploring new synergies with Param customers.

“A meeting of minds”
Emin Can Yılmaz, founder and CEO of Param
Emin Can Yılmaz, founder and CEO of Param

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. 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.”

Ranked the most valuable fintech in Turkey, Param is highly profitable and has been EBITDA positive since its inception in 2014. The company has seen 90 per cent year-on-year growth in TTV in the last 12 months to June 2023, totalling over €4.2billion.


  • Tom joined The Fintech Times in 2022 as part of the operations team; later joining the editorial team as a journalist.

Related posts

Emerging Payments Award Winners Announced: Lloyds Bank, Global Processing Services and Airtel Uganda Win Big

Polly Jean Harrison

The Climate Change Orientated Investment Platform Clim8 Announces a Mobile App

Francis Bignell

Cloud in Focus: Steve Dorward, Lead Architect, Group Functions, Lloyds Banking Group

Manisha Patel