Papara, A Turkish Fintech Business, Has Acquired The Spanish Neobank Rebellion.

Purchase of Rebellion

Papara, a Turkish financial technology business, has announced the purchase of Rebellion, a Spanish neobank. This strategic decision represents a big step forward for the Istanbul-based corporation in its efforts to extend its footprint in Europe. Neobanks are forward-thinking financial organizations that only function via mobile and internet platforms, with no physical branches.

Rebellion distinguishes itself from its competitors by providing a wide variety of financial goods and services, such as money transfers, prepaid cards, and Cashback, to meet the financial demands of the Y and Z generations. Notably, Rebellion has received favorable feedback for its mobile app, cementing its position as a market leader in the Spanish financial technology field.

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Industry Thoughts

Rebellion was founded in 2017 by Sergio Cerro and Alex Sagrado and has since grown to become one of the biggest neobanks in the Spanish market, with a total investment of 15 million euros. In 2023, Papara concluded its first purchase deal in Europe, Rebellion. Due to shifts in worldwide investor trends, Rebellion Co-Founder Cerro revealed that they have initiated a strategic M&A strategy to join forces with an international top player in early 2022.

This acquisition offers an outstanding opportunity to advance a project that aligns seamlessly with the Spanish neobanking market,” he added. Given the absence of a dominant player in the Spanish sector and the current economic landscape, I am convinced that Papara is the ideal partner for combining resources, business vision, and passion in a synergistic manner.” The whole current Rebellion team will continue on this new journey, while our industry skills and know-how will increase with new recruits and Papara’s vision,” Cerror emphasised.

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Meanwhile, Sagrado has indicated their intention to preserve a common vision with Papara. They want to improve financial technology by emphasizing transparency and usefulness in product development processes. He said that the objective is to offer each individual with an extraordinary personalized experience, recognizing that money is a very personal subject for everyone involved. This way, users will be able to respond to the demand for a qualified, accessible, and fast experience that integrates with daily life,” he said. Papara’s CEO Emre Kenci announced their plans to buy two companies in Europe in 2023 during his speech at the Uluda Economy Summit, which was held in recent months and is considered one of the most important business and economic meetings in Türkiye.