Investing in Hopi from Param – Bloomberg HT
Financial technology company Param invested in Hopi, Boyner Group’s loyalty program and mobile application, over a $100 million valuation. While Param bought a minority stake in Hopi, the proportion of the partnership was not disclosed.
Hopi, which has more than 15 million users in Turkey, will start to offer customers shopping in installments without a credit card after the partnership, and each user will be assigned a personal limit.
Stating that they want to reach people with limited access to credit in the inflationary period Turkey is going through, Boyner Group Chairman of the Board Cem Boyner stated that they aim to support the purchasing power of customers.
Hopi will also provide its customers with the opportunity to make partial investments in precious metals such as gold and silver in the US and Turkish Stock Exchanges. The company, which plans to implement this feature by the end of the second quarter of the year, will cooperate with a brokerage house for this.