Sipay, a Turkish fintech company, has successfully raised $78 million in a Series B funding round, achieving a valuation of $875 million. This capital will enable Sipay to expand its services beyond Turkey, focusing on remittances and other offerings currently lacking in these regions. The funding round was led by Elephant VC and included participation from QuantumLight. Founded in 2019, Sipay serves 6.3 million wallet users and 25,000 merchants, boasting a 5x revenue growth year-on-year. The company has been profitable since 2023, projecting run-rate revenue of $600 million.