United Payment will become a major shareholder of Turan, the leading financial platform of the Turkic World, which it has been investing and supporting since 2022. Following the approval of the Competition Authority, the majority controlling stake in Turan will officially be transferred to United Payment. With this merger, United Payment plans to further strengthen its leadership in the region by increasing its strength in the Turkic States.
United Payment’s Major Strategic Step
United Payment, one of the leading companies in the field of financial technologies, announced that it has reached an agreement to become the major shareholder of the Turan application. The company has a significant place in the sector both domestically and internationally and aims to further strengthen its leadership in the region with this step. The major shareholder of Turan, which aims to create a financial bridge between the Turkic States, will be United Payment following the approval of the Competition Authority.
The company has attracted attention since its establishment by making strategic acquisitions and continues its activities with the vision of becoming the largest company in the region, operating in all areas of the fintech sector, originating from Turkey.
Facilitating Financial Transactions Between Turkic States
The Turan application provides money transfer services between Azerbaijan, Kazakhstan, the Turkish Republic of Northern Cyprus, Kyrgyzstan and Uzbekistan within seconds. The platform, which carries out financial transactions worth millions of liras every day, facilitates banking services for Turkish compatriots living in Turkey. At the same time, it provides 100% digital and affordable financial solutions to all its users in Turkey.
Turan was the first application in the financial category in Turkey in 2023 and the second most downloaded application in the overall ranking. The platform currently has more than 500 thousand customers and local offices in Azerbaijan and Uzbekistan.
Statement from Turan's Founder
Turan's founder Özgür Bayraktar said the following regarding United Payment becoming a major shareholder:
"We set out on this path with big dreams on October 29, 2022. There was no place in the Turkic World that we did not step into. We grew, learned and achieved great successes every day. Today, we are proud to have reached one of the most meaningful stages of this path. The agreement we reached with United Payment, which has the support of Turkey's most established and powerful financial institutions, is a strong expression of our determination to achieve greater successes together in the future.
I would like to thank our team who worked day and night in this process, our investors who believed in us and the United Payment family. We will continue to work shoulder to shoulder with United Payment with the same enthusiasm and enthusiasm."
United Payment continues its activities with the vision of becoming the largest company originating from Turkey and providing services in every field of financial technologies. With this strategic step, it aims to provide stronger support for the development of digital banking and financial technologies among the Turkic States.
