Istanbul, London advise TPAY Mobile on acquisition of Turkish FinTech leader, Payguru
Global | Press release - Business | June 11, 2020
A cross-border team from Norton Rose Fulbright's Istanbul and London offices recently advised TPAY MOBILE (TPAY) on its acquisition of 100-percent of the shares of leading Turkish FinTech company Trend Ödeme Kuruluşu A.Ş., known in the market as Payguru.
TPAY is the Middle East and Africa's (MEA) leading digital merchant acquirer, enabling payments acceptance from more than 54 mobile payment channels, which are connected to more than 580 million consumers in the region. Leveraging direct carrier billing (DCB), mobile wallet and mobile money, through a single integration, merchant partners are able to unlock access to these consumers across 24 countries.
Payguru is the first fully licensed mobile payment company in Turkey. Providing merchants with in-house developed, user friendly, innovative payment services solutions leveraging digital and mobile technologies to add value in commerce and business. Payguru is the new generation payment platform providing "Mobile Payment" services and "Cash Payments and Bank Transfer" services through its integration with the mobile operators and banks in Turkey.
The transaction remains subject to regulatory approvals.
Norton Rose Fulbright's Istanbul team included Ayşe Yüksel Mahfoud, Head of Cross-Border Practices and Partner-in-Charge of the global law firm's Istanbul office, Istanbul partner Ekin İnal and associate Ecem Naz Boyacıoğlu (İnal Kama Attorney Partnership, in association with Norton Rose Fulbright in Istanbul); the London team included partners Bayo Odubeko and Michael Alliston, and senior associate Nari Ertem and associate Will Scott.
In a prior transaction from 2018, Norton Rose Fulbright advised Helios Investment Partners on its acquisition of a majority stake in TPAY from A15, a tech investment fund based in Egypt.