This collaboration aims to provide Papara's user base with the capability to invest in real-time in US stocks listed on the Nasdaq and NYSE, starting in October 2024. According to the official press release, the surge in retail investors in Turkey, from 1.2 million to over 8 million since 2020, underscores the growing interest in investing among the populace. With DriveWealth's fractional investing solution, Papara users will gain access to buying or selling fractional shares in US equities and ETFs.
The same source reveals that Papara is transitioning into a financial super-app targeted at the digital-native demographic. By integrating savings and investment products directly into the app, Papara aims to democratise investing, helping its predominantly Gen Z and millennial user base to initiate their investment journey.
Papara's new stock investment product offers real-time market data and the ability to invest in fractional shares with lower minimums of USD 1 and fixed transaction fees. Users can manage their investment accounts directly within the Papara app, featuring expedited onboarding that takes seconds.
Representatives from Papara highlighted the importance of enabling a new generation of retail investors to access global markets seamlessly and affordably. They emphasised Papara's commitment to removing barriers to investment while enhancing financial literacy and inclusion and described the partnership with DriveWealth as an important step in Papara's evolution into a comprehensive financial super app, prioritising user experience and interests.
Officials from DriveWealth brought up the company's mission to democratise finance around the world and noted that the partnership with Papara would not only open up previously inaccessible markets for Turkish investors but also enable the purchase and sale of fractions of US stocks in real-time.
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