Karslı – who himself is a big fan of fintechs including Cash App , Revolut and Robinhood – wanted to drive financial inclusion . “ We began as a small but ambitious venture with a vision of offering Turkey an accessible financial service when we saw many being underbanked and underprovided ,” he recalls in conversation with FinTech Magazine . “ I founded Papara with a mission of promoting financial inclusion and freedom for all . This foundation remains ingrained in Papara ’ s ethos , as we firmly believe that everyone deserves access to financial services that cater to their unique needs and preferences . In 2021 , over 30 % of Turkey ’ s population was reported by the World Bank to be underbanked and so Papara wants to drive positive change within the industry to establish a financial system that benefits everyone .

“ Traditional banking systems often impose barriers through their terms and fees , leaving many underserviced . We ’ re proud to be leading change in Turkey , offering customers the ability to enter the financial landscape on their own terms , fostering a more equal and democratic environment .”

Papara ’ s exponential growth has been ‘ incredible ’ At a time when many fintechs are reliant on venture capital funding – and some now are understanding the need to rediscover profitability – Papara has done things uniquely . The neobank has bootstrapped its way to where it stands today , with no external investment , having been profitable since 2017 .

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