Papara buys Spanish neobank Rebellion

Financial technology company Papara announced that it has acquired the Spanish neobank Rebellion.

With this agreement, the company affirmed that it has taken an important step in the process of opening up to Europe.

Rebellion co-founder Sergio Cerro shared his thoughts on the acquisition: “Due to changing global investor trends, we at Rebellion launched a strategic M&A plan to join forces with a major international player in early 2022. “This acquisition presents an extraordinary opportunity to advance a project that aligns perfectly with the Spanish neobanking market.”

‘NEW HIRING’ MESSAGE

“Given the absence of a dominant player in the Spanish sector and the prevailing economic landscape, I firmly believe that Papara is the ideal partner to synergistically combine resources, business acumen and passion,” said Sergio Cerro.

“With the acquisition, all of Rebellion’s existing team remains on this new venture, while our experience and knowledge of the industry will grow with the new hires and Papara’s vision.”

In his speech at the Uludağ Economic Summit held in recent months, Papara CEO Emre Kenci stressed that they believe in Papara’s potential to compete in global markets and announced that they will buy two companies in Europe in 2023.

Rebellion was Papara’s first acquisition deal in Europe in 2023. (DHA)