Turkish fintech giant to acquire ‘complete ownership’ of Pakistan’s SadaPay in potential deal — insiders

An undated file photo of SadaPay's numberless debit card. (Photo courtesy: SadaPay/Facebook)
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Updated 19 February 2024
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Turkish fintech giant to acquire ‘complete ownership’ of Pakistan’s SadaPay in potential deal — insiders

  • SadaPay, valued at $43-64 million in April 2022, is likely to attract up to $50 million as part of the deal
  • Turkiye’s Papara will invest $10 million in Pakistan to further increase operational capacity of SadaPay

KARACHI: Papara, a financial technology giant headquartered in Turkiye’s Ankara, is currently in talks with SadaPay, a Pakistan-based financial technology company, for a potential merger deal worth nearly $50 million, according to people familiar with the developments.

Papara, an electronic money and payment services organization, is the first non-banking entity to issue a prepaid card with Mastercard logo in Turkiye. Launched in 2016, the fintech has 18 million users and provides digital wallet services, allowing users to make payments, transfer money, and perform various financial transactions through their mobile phones or online platforms.

SadaPay, on the other hand, is regulated by the State Bank of Pakistan (SBP) and is a wholly-owned subsidiary of SadaPay Technologies Limited, registered with the Dubai International Financial Center.

The deal for “complete ownership” of SadaPay by the Turkish fintech giant is in advanced stages and if finalized, it would pave the way for an immediate investment of around $10 million in Pakistan, said sources familiar with the developments.

Reached for comment, Brandon Timinsky, CEO of SadaPay, told Arab News that he was “not able to provide any official statement at this time.”

Other key officials of SadaPay also declined to comment, but a fintech source called the possible merger a “good development” for Pakistan.

“This is a good development for Pakistan’s startup ecosystem,” the official said, requesting anonymity. “This deal will pave the way for further investment of around $10 million in addition to actual value of the deal to boost operational capacity [of SadaPay].”

He said the deal would likely be in the range of $30-50 million, under which “100 percent ownership” of SadaPay would be transferred to the Turkish firm.

Dealroom.com, a global provider of data and intelligence on startups and tech ecosystems, valued SadaPay at $43-64 million in April 2022.

The final details of the deal are expected to be made public after a regulatory approval from the Pakistani central bank.


US says trade with Pakistan could top $8 billion in 2025

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US says trade with Pakistan could top $8 billion in 2025

  • US chargé d’affaires links rising trade to deeper economic engagement with Pakistan
  • Visit comes amid broader effort by Islamabad and Washington to improve bilateral ties 

ISLAMABAD: Trade between the United States and Pakistan is projected to exceed $8 billion in 2025, the US Embassy said on Tuesday, as Washington signaled confidence in Pakistan’s export base and economic potential during a high-profile visit to the industrial city of Sialkot.

The projection was highlighted by US Chargé d’Affaires Natalie A. Baker during meetings with Pakistani exporters and business leaders, underlining the importance Washington places on trade, investment and supply-chain cooperation as the two countries seek to stabilize and expand their economic relationship.

“Highlighting the growth in trade between the United States and Pakistan, which was projected to reach over $8 billion in 2025, Baker said, ‘Expanding trade reflects a strong foundation that highlights the positive impact of US economic engagement in Pakistan and globally. The United States and Pakistan are pursuing a fair and balanced trade relationship that creates prosperity for both our nations’,” the US embassy said in a statement.

The envoy said the United States had been Pakistan’s largest export market and a leading investor, presenting significant opportunities for expanded trade and shared prosperity. 

“The United States remains deeply invested in Pakistan and its people,” Baker said, “building on a partnership that dates back to Pakistan’s independence and continues to grow through trade, innovation, education, and cultural exchange.”

The visit comes amid a broader effort by Islamabad and Washington to improve bilateral ties under US President Donald Trump’s second term, after years of uneven engagement. Since mid-2025, the two sides have stepped up diplomatic contacts, including meetings between Prime Minister Shehbaz Sharif, Pakistan’s military leadership and US officials, alongside discussions on trade, minerals, security cooperation and regional stability.

Pakistan has also sought to re-energize economic diplomacy with Washington as it works to boost exports, attract foreign investment and stabilize its economy under an IMF-backed reform program. 

In July 2025, the two countries agreed to a bilateral trade deal that included reciprocal tariff reductions and frameworks for US investment in Pakistan’s energy and mineral sectors, a step Islamabad has hailed as opening new avenues for economic collaboration.

During her visit, Baker toured leading exporters including Forward Sports, First American Corporation (FAC) and CA Sports, companies that are deeply embedded in global supply chains. The embassy said nearly 70 percent of FAC’s exports go to the United States, illustrating sustained US consumer demand for Pakistani-made goods.

Baker also visited Sialkot International Airport and met with the leadership of AirSial, highlighting private-sector-led infrastructure and logistics as key to Pakistan’s export growth.