SadaPay deal has Pakistan looking to startups to attract foreign capital

ISLAMABAD — Pakistan’s digital startups and a government that some say might be sufficiently motivated by the country’s teetering economy could be about to align in a manner attractive to foreign investors, an outcome that was hinted at by a Turkish company’s acquisition of digital wallet startup SadaPay.

Turkish fintech company Papara acquired SadaPay for $50.5 million after the State Bank of Pakistan, the central bank, approved the purchase in May. Papara will also pump $10 million into the startup, as per media reports.