Turkey’s Sipay raises $78M to expand its Stripe-like services into emerging markets

Billing itself as “Stripe for emerging markets,” Turkish Fintech Sipay has raised a $78 million Series B funding round, claiming a valuation of $875 million in the process.

This round is significant, as Sipay plans to expand into markets outside of Turkey, offering additional services like remittances that Stripe currently does not offer in those regions.

The all-equity round was led by U.S.-based Elephant VC, with participation from Revolut co-founder Nik Storonsky’s VC firm, QuantumLight.

Founded in 2019, Sipay operates an…