Turkish fintech Papara is collaborating with DriveWealth to enable its 20 million users to invest in US stocks on the Nasdaq and NYSE in real-time.
Utilizing DriveWealth’s Brokerage-as-a-Service technology, Papara customers will be able to buy or sell fractional shares in US equities and ETFs starting in October. This investment product provides real-time market data and allows users to invest with lower minimums of $1 and fixed transaction fees. Over 600,000 individuals have already joined the waiting list.
Emre Kenci, CEO of Papara, commented, “Partnering with DriveWealth marks the next chapter of Papara’s transformation into a one-stop financial super app.”
Founded in 2015, Papara achieved profitability within two years. Last year, the company expanded its reach by acquiring Spanish counterpart Rebellion.