DgPays Valuation, Funding & Investors

DgPays is valued at $600M as of February 2024.

Last DgPays valuation

$600M

Series B · Feb 2024

Last DgPays funding round

$50M

Series B · Feb 2024

Cumulative funding DgPays raised

$50M

across 1 funding round

Key investors in DgPays

  • Truffle Capital
  • EBRD (Türkiye)

DgPays Overview

About DgPays

DgPays is a fintech provider of end-to-end payment platforms for banks, e-money issuers, telcos, and transport firms. Solutions cover mobile banking, CRM integration, AML compliance, fraud detection, and authentication services. Deployed in Eastern Europe, DgPays supports real-time transactions and digital wallets.


Founded

2017

HQ

Turkeyİstanbul

Website

dgpays.com

Status

Privately held

Customer focus

B2B

Revenue model

Services, Subscription

Valuation

$600M (Feb 2024)

DgPays Valuation

DgPays is currently valued at $600M, based on its Series B in February 2024.

The $50M round was led by EBRD (Türkiye) and Truffle Capital.

DgPays valuation by funding round

DgPays valuation by funding round
DateStageValuation
Feb 2024Series B$600M

DgPays Funding History

DgPays has raised a total of $50M across 1 funding round.

DgPays funding rounds

DgPays funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2024Series BEBRD (Türkiye) (lead); Truffle Capital (lead)$50M$600MDgpays is a Turkish fintech company providing payment and banking infrastructure software platforms to large companies, positioning itself as one of Türkiye's leading players in the sector with exponential growth since its inception seven years prior to 2024. The company completed its second major investment round in February 2024, led by Truffle Capital—a prominent French venture capital fund specializing in fintech—and the European Bank for Reconstruction and Development (EBRD Türkiye), marking EBRD's follow-on investment after an initial 2021 financing via its Venture Capital Investment Framework. This round doubled Dgpays' valuation in less than two years to over $600 million USD (equivalent to approximately TL 18.7-18.79 billion), as announced at a ceremony at the Turkish Embassy in London attended by key figures including Dgpays CEO Serkan Ömerbeyoğlu, Presidency Investment Office head Ahmet Burak Dağlıoğlu, and EBRD Türkiye Director Arvid Tuerkner. The investment underscores international confidence in Türkiye's fintech ecosystem, highlighting Dgpays' potential to compete globally amid trends like high digital penetration and a young population driving banking and payments innovation. Truffle Capital's participation represents its first investment in a Turkish fintech, alongside EBRD's ongoing commitment, which includes nearly EUR 19.5 billion invested in Türkiye since 2009 to foster private sector growth and innovation. The transaction was finalized in late 2023 according to some reports, but publicly announced around February 27-28, 2024. Dgpays aims to solidify its role as a global leader in financial technology, building on its regional prominence.

Who has invested in DgPays?

2 investors have backed DgPays across its funding rounds, including Truffle Capital and EBRD (Türkiye).

Lead investors include EBRD (Türkiye) and Truffle Capital.


DgPays Investors

Investors in DgPays by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by DgPays

DgPays has acquired 1 company to date.

Last acquisition by DgPays was on September 23rd 2024. DgPays acquired Neo Pay for $592M.


Latest Acquisitions by DgPays

Neo Pay
Description
Neo Pay is a Dubai-based payment gateway launched in 2018 processing transactions for retail, hospitality, and e-commerce in the UAE and GCC. It supports Visa, Mastercard, and Apple Pay with dynamic currency conversion in 10 currencies and buy-now-pay-later via Tabby integration. Merchants access analytics dashboards tracking 1 million monthly transactions valued at AED 500 million.
HQ CountryUnited Arab Emirates
HQ City
Dubai
Deal Date23 Sep 2024
Valuation$592M
EV/Revenue
EV/EBITDA

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DgPays Competitors

DgPays competitors include listed companies like Hightech Payment Systems, i3 Verticals and Alfa Financial Software, and private ones like Mash Finance Group, Getcourse.ru and Form3.

Public and private companies comparable to DgPays
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Hightech Payment SystemsMoroccoMoroccoPublicly listed$156M$29M$496M3.2x
i3 VerticalsUnited StatesUnited StatesPublicly listed$213M$43M$271M2.3x
Mash Finance GroupFinlandHelsinkiPrivate--$255M-
Getcourse.ruRussiaMoscowPrivate--$600M-
Alfa Financial SoftwareUnited KingdomUnited KingdomPublicly listed$170M$58M$618M3.4x
Form3United KingdomLondonPrivate--$570M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SZZT Electronics Co$148M($7M)6.9x4.5x(143.3x)-
LINE Pay Taiwan$247M$24M----
AvenuesAI$846M$39M0.6x-13.4x-
Seshaasai$150M$41M3.9x3.7x14.4x14.2x
Alfa Financial Software$170M$58M3.5x3.4x10.3x10.4x
FINEOS$159M$35M3.2x3.0x14.5x12.4x
Client Service International$88M($46M)7.5x-(14.3x)-
AMTD Digital$59M$18M19.5x-62.9x-

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Common questions about DgPays

When was DgPays founded?DgPays was founded in 2017.
Where is DgPays headquartered?DgPays is headquartered in İstanbul, Turkey.
Is DgPays publicly listed?No, DgPays is a private, VC-backed company.
What is DgPays' valuation?DgPays was last valued at $600M in its Series B in February 2024.
How much funding has DgPays raised?DgPays has raised $50M across 1 funding round.
What was DgPays' last funding round?DgPays' last funding round was a $50M Series B in February 2024, led by EBRD (Türkiye) and Truffle Capital.
Who are DgPays' investors?DgPays' investors include EBRD (Türkiye) and Truffle Capital.
Which companies are comparable to DgPays?Companies comparable to DgPays include Hightech Payment Systems, i3 Verticals, Mash Finance Group, Getcourse.ru, Alfa Financial Software and Form3.
How many companies has DgPays acquired?DgPays has acquired 1 company, including Neo Pay.
What was the largest acquisition by DgPays?The $592M acquisition of Neo Pay in September 2024 is the largest acquisition DgPays has made to date.

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