Papara, the leading Turkish neobank, has announced its acquisition of Spanish Rebellion.

This major acquisition, the first of its kind for Papara, propels the company’s valuation to over $1bn, elevating it into the coveted ranks of FinTech unicorns in Europe.

The strategic purchase of Rebellion is part of Papara’s ambitious global expansion strategy. It gives the Turkish neobank an instant presence outside its home market for the first time.

Based in Turkey, Papara has established itself as a comprehensive financial SuperApp, offering a wide array of services like instant and free transfers for consumers, bill payments, foreign currency transfers, and tracking spending habits.

Rebellion, headquartered in Madrid, is one of Spain’s top-rated financial apps. It has built a strong reputation for offering services similar to Papara’s, such as money transfers, prepaid cards, and cashback options, all aimed at fostering financial independence among its users.

As part of the acquisition, Rebellion will undergo a rebranding exercise to become Papara Spain.

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