Turkey-based fintech Param has acquired Czech-based BNPL provider Twisto and furthered its European expansion. As an FCA-approved Electronic Money Institution (EMI), Param currently enables its customers to make international as well as domestic transfers in the UK.

By leveraging Twisto’s European licences, Param seeks to extend its embedded finance solutions across Europe. More precisely, the fintech initially intends to expand its footprint in Twisto’s core markets, the Czech Republic and Poland, and then continue to do the same in Germany and the Netherlands. More details about the acquisition As outlined in the official press release, Param is backed by international private equity firms and funds, including the European Bank for Reconstruction and Development (EBRD), CEECAT, Alpha Associates, and RevoCapital.

The fintech provides solutions that are specifically tailored to SMEs and corporations. The finance products that it extends include online and offline payment offerings, open banking, customer loyalty, wallet services, prepaid cards, and collections, as well as a BNPL service and an SME lending business. Strategy-wise, the acquisition will have no effect on Twisto’s operations, current partnerships, or its management team.

Instead, Param will focus its efforts towards providing products and services to its customers. Following its acquisition of Twisto, Param now services over 85,000 merchants. Subsequent to the acquisition, Twisto purportedly plans to widen its product suite by adding embedded finance solutions, payments, prepaid cards, digital wallets, BNPL, SME lending, and loyalty programmes to its list of offerings.

Param’s strategy and past developments Param was reportedly the first e-money institution in Turkey. At present, it remains the sole entity holding four card schemes: Visa, Mastercard, Troy, and Discover. Kredim, its BNPL model, has facilitated over 500,000 loans.

Currently, the company's primary focus lies in its B2B2X offering, with the objective of introducing its solutions throughout Europe. The reasoning behind this strategic decision has to do with the anticipated evolution of this sector. According to a report by the Boston Consulting Group (BCG), cited in the official statement, the B2B2X sector is currently expanding and is anticipated to drive the following phase of the fintech evolution.

Even more to this point, projections indicate that the sector will achieve a CAGR of 25%, resulting in a global annual revenue of USD 440 billion by 2030, supported by growth in embedded finance and financial infrastructure. .