Turkish fintech Sipay has acquired Hesapkurdu and Koalay, which were bought by UK-based BHL Holding for $65 million last year, in a deal whose financial details were not disclosed to the press.
Founded in 2010 by Ömer Paksoy and Onur Tekirturhan, Hesapkurdu and Koalay provides mediation services for personal banking and insurance products. In May 2023, the two brands united under the umbrella of BHL Holding provide new products and services in the field of financial technologies to more than 9 million customers.
Hesapkurdu and Koalay, whose mission is to make banking and insurance products easier and more transparent, have changed hands to join Sipay, which provides businesses and individuals with alternative options to meet all their financial needs on a single platform.
Sipay, founded by Nezih Sipahioğlu in 2019 and growing rapidly, recorded a 10-fold increase as of April. The domestic fintech, which aims to close 2024 with a revenue of $300 million, announced in June that it plans to expand its product portfolio, enter new markets and strengthen its global presence with a $15 million investment.
