Flow Partners advises Rebellion Pay on the acquisition by Papara

Advising Spanish neobank Rebellion Pay on the acquisition by Papara.

Madrid, Spain / Istanbul, Turkey — 05 Jul 2023

Flow Partners acted as an exclusive financial advisor to Spain's leading neobanking platform Rebellion Pay on the acquisition by Papara, a Turkish consumer fintech firm.

Overview

Papara, an Istanbul-based consumer fintech platform acquired Spanish neobanking leader Rebellion for an undisclosed amount.

With the acquisition of Rebellion, Papara doubles down on its international mission, to expand its consumer fintech platform beyond Turkey and launch global product offering. Together, Rebellion and Papara will embark on a path to become a global neobanking leader, unlocking synergies, leveraging a fresh brand identity, and the shared vision for both companies.

This transaction highlights our team's stellar track record in the fintech space, having also advised e.g. shareholders of Lemonade (neoinsurance provider), Orka (consumer lending platform), or Marcura (owner of a maritime payment solution MarTrust).

Transaction Background

Sergio Cerro, co-founder of Rebellion said in a statement: "I strongly believe Papara is the ideal partner to synergistically blend resources, business vision and passion, given the absence of a dominant player in the Spanish sector and the prevailing economic landscape. As we continue to stay on the adventure, our expertise and knowledge in the sector will grow with new recruits and Papara's vision."

Ahmed F. Karsli, Papara's founder, added: “With this acquisition, the talented Rebellion team joins us on our journey, bringing extremely valuable expertise and knowledge for our European expansion. Together, we will embark on a path of growth, leveraging new recruits, a fresh brand identity, and the visionary outlook of Papara. We are confident that our products, services, and vision can compete on a global scale, and Spain serves as our first milestone in this exciting adventure.”

About Rebellion

Founded in 2017 by Sergio Cerro and Alex Sagrado, Rebellion Pay was created to meet needs of young generations who do not identify with conventional banks. Rebellion quickly became a leading financial app for tech-savvy Gen Z and millennials in Spain, offering innovative financial solutions such as fee-free money transfers, prepaid cards, crypto trading, cashback and BNPL features. Born out of the need to change the legacy banking experience, Rebellion ensures true à la carte digital banking experience for its users.

About Papara

Having launched in 2016, Papara is a leading fintech in Turkey with over 16 million users. The company holds an E-Money license, and provides a wide range of functionality including money transfers and payments through its mobile app.

About Flow Partners

Flow Partners is a modern advisory firm providing independent corporate finance advice to companies and investors that shape the global digital ecosystem. Flow was founded in 2020 and operates globally with presence in London, Berlin, Warsaw and Miami.

For more information, please visit www.flowpartners.io

Enquiries

For all enquiries please contact the team at [email protected]

Relevant Client Successes

acquisition by

MAILINGWORK is a German email marketing software platform.

acquisition by

TestSolutions is a German software testing provider.

strategic advisory

Element is one of the world’s leading providers of testing, inspection, and certification services.

acquisition by

Rebellion is a Spanish neobanking plaform for Gen Z and Millenials.

acquisition by

HAPPYCAR is an online price comparison and booking platform for rental cars.

investment by

GoTrendier is an online marketplace to buy second-hand clothing in Mexico and Colombia.

potential acquisition by

Testing, Inspection & Certification Player

Resillion (formerly Eurofins Digital Testing) is a digital testing, cybersecurity, content and digital forensics provider.

acquisition by

Pure is an online platform and mobile app for casual dating, catering to curious and adventure-seeking individuals.

investment by

Undisclosed Buyer

Ziik is all-in-one internal communication and information sharing platform for better employee engagement.

investment by

Krita is the leading factoring platform operating in the Icelandic market.

investment by

Orka owns a portfolio of online consumer lending platforms operating in Iceland.

investment by

Sentryc is an AI-driven software solution to protect intellectual property and brand reputation online.

investment by

Legendary Play is a mobile gaming studio focused on esports community.

investment by

MILES is the largest independent car sharing provider operating in Germany.

investment by

Picus Security is a Turkey-based cybersecurity platform focused on Breach-and-Attack Simulation vertical.

investment by

sevDesk is an accounting software platform for SMEs and freelancers in Germany and Austria.

investment by

Metaloop (formerly Schrott24) is an online marketplace for scrap metal trading.

European Satellite & Terrestrial Network Provider

potential investment by

Key Family Partners (KFP) is a Geneva-based multi-family office.

Fiber To The Home (FTTH) Provider

potential investment by

Key Family Partners (KFP) is a Geneva-based multi-family office.

valuation advisory

Onlogist is a Europe-wide online marketplace for efficient “last mile” vehicle transfer.

valuation advisory

Hector is a display advertising platform providing software house with expertise in AI/ML, IoT.

valuation advisory

Panorays is a a software platform for third-party security management.

valuation advisory

Percepto is an autonomous drone monitoring solutions for critical infrastructure and industrial sites.

valuation advisory

Selina is a travel and lifestyle hospitality platform targeted for digital nomads.

valuation advisory

Bonart is a financial platform that focuses on fundraising for private equity and investment industry.

valuation advisory

Seagull Maritime is a maritime cybersecurity and protective services company.

valuation advisory

Moburst is a global marketing services company that helps brands grow their mobile business.

valuation advisory

Lemonade is a full-stack insurance company powered by AI and behavioral economics.

valuation advisory

Testim is an AI-based software testing automation platform for application testing.

valuation advisory

Brew is a generative AI platform designed for marketing teams.

valuation advisory

BiomX is a clinical stage microbiome therapeutics company.

valuation advisory

Code Pharma develops cost-effective treatments for infectious and oncological diseases by using novel peptides.

investment by

Undisclosed Investors

AVE & YOU is a technology platform and DTC brand for personalized skincare.

European Digital Asset Management (DAM) Software Provider

acquisition by

Byron Capital Partners manages multi-manager, private equity, real estate, fixed income and credit portfolio.

See all our track record

Our capabilities span across M&A, capital raising and strategic advisory.

All Experience