FinTech Param enters European market with Twisto acquisition

By Gloria Methri

Param, one of  Turkey’s biggest FinTechs, is entering the European market with the acquisition of CEE Buy Now, Pay Later (BNPL) provider Twisto. With plans for a wider global expansion, Param is introducing its technology and integrated embedded finance products and services to Europe.

One of the first Czech FinTechs, Twisto was acquired from previous proprietor Zip Co for an undisclosed sum. An FCA-approved electronic money institution, ParamUK currently allows customers to make international and domestic transfers in the UK.

The acquisition will enable it to expand its footprint across Europe, starting with Twisto’s core markets – Czech Republic and Poland – as well as Germany and the Netherlands as the next new markets.

Param offers a wide range of embedded finance solutions to SMEs and large corporations. This includes online and offline 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 85,000+ merchants. The acquisition will focus on providing more enhanced products and services to clients, merchants, and partners, and exploring new synergies with Param customers.

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. Twisto already claims the #1 position in BNPL services in Czechia with a strong, recognisable, and top-of-mind brand awareness. There is a significant overlap between its business model, the Founders’ vision, and the Group”

“In Param, we have found a partner that has proven time and time again the strength of its business model, and thirst for payments innovation,” said Michal Šmída, CEO, Twisto. “We believe that with this know-how Param will make a significant contribution to the further sustainable growth of Twisto, as we get closer to achieving profitability. In the meantime, we will continue to look for new quality growth opportunities in our region and Europe with the certainty of support from Param.”