Clifford Chance

Clifford Chance assists TPAY MOBILE on financing acquisition of Payguru

Leading international law firm Clifford Chance has advised TPAY MOBILE, the full-service digital payments platform for the Middle East, Africa, and Turkey, on obtaining debt financing from an international institutional investor for its acquisition of Payguru, a Turkish payment service provider.

TPAY MOBILE, makes it easy for digital service providers to access over 600 million consumers and accept payments across MEA and Turkey. Through one simple API integration, TPAY MOBILE’s full service mobile payment platform enables rapid business growth and drives financial inclusion. The company is headquartered in the UAE and its services are currently used by over 30 million active users in 27 countries across MEA & Turkey. TPAY MOBILE’s shareholders include Helios Investment Partners, the leading Africa-focused private investment firm, and A15, the Middle East’s leading tech-focused VC fund.

Payguru offers mobile payments, ATM cash payments, and bank transfer services to its merchants through its integration with three mobile network operators and eight major banks. The acquisition will expand TPAY MOBILE’s offering of alternative payment products and financial technologies and will contribute to further growth across geographies and business lines.

Clifford Chance's team was led by global financial markets partner, Graham Brewer in Dubai, who comments "This was an exciting fintech transaction to have advised on due to the unique nature of TPAY's offering and their ambitions to drive digital growth in the region". He continued "Transactions of this nature also provide vital financial inclusion across Africa and the Middle East for millions of consumers who might not otherwise have access to more traditional payment solutions."

Assiting Graham was senior associate Angad Chaturvedi and trainee Shema Begum. Local Turkish law advice was provided by Sait Eryilmaz and Asli Pabuccuoglu at CIFTI Law.