PARAM

Based in Turkey, PARAM operates as a provider of financial technology solutions, facilitating digital transactions and enhancing consumer experience through its diverse product offerings. Founded in 2013, PARAM specializes in financial technology, offering innovative solutions for digital payments. The company has raised USD 28. 8 mn in its Series A funding round on June 15, 2022, led by the European Bank for Reconstruction and Development with participation from Alpha Associates, CEECAT Capital, and Revo Capital.

The CEO of the company is Emin YILMAZ, alongside co-founders Serkan Oral and Stanley Gauthier. Param offers a range of financial technology products aimed at simplifying digital transactions and enhancing the consumer experience. Its core offerings include prepaid cards, payment solutions, and cash-back programs that cater to individual users and businesses alike. Users can easily withdraw, send, and make payments using the Param card, which also allows for earning cash-back rewards with every purchase.

The company provides integrated online payment systems, including a secure virtual POS option compatible with various banking institutions, enhancing transaction efficiency for businesses. Param's services are designed to meet the needs of a diverse clientele, including individual consumers and corporate clients, primarily targeting markets in Europe, where it has established partnerships with numerous retailers and e-commerce platforms. Param's revenue generation strategy is built on processing payment transactions and providing value-added financial services to both individual consumers and businesses. The firm collects transaction fees based on a competitive commission structure, which is set at 2.

19% for payments processed via its virtual POS system. Businesses utilizing Param's services can manage payments efficiently through a single link, facilitating seamless transactions without the need for additional integration costs. The company benefits from recurring revenue through its partnerships with retailers and merchants, further bolstered by consumer engagement with cash-back incentives tied to the use of its Param card. In June 2022, PARAM raised USD 28.

8 mn in Series A funding, which will be utilized to accelerate its growth and support international expansion. The company plans to launch new products aimed at enhancing user experience in the coming year and is targeting expansion into additional European markets by late 2023.