Papara, which made its announcement at Money 20/20 Europe this week, plans to deploy DriveWealth's fractional investing solution to let its 20 million members make real-time investments in US equities on the NYSE and Nasdaq.

The new product will be live in October and can be accessed straight through the Papara app. For a $1 minimum investment, customers will be able to purchase and sell fractional shares of US stocks and ETFs.

"Partnering with DriveWealth marks the next chapter of Papara's transformation into a one-stop financial super-app," says Emre Kenci, co-founder and CEO of Papara, in reference to the new partnership.

According to Kenci, "it has never been more important to enable a new generation of retail investors to access global markets simply and affordably."

Papara was established in 2016 and provides a variety of financial services via its app, such as money transfers, bill payments, cashback, cards, and budgeting tools.

The launch of Papara's latest offering comes soon after the company purchased SadaPay, a digital wallet service with operations in Pakistan. Just last week, the deal—which was allegedly for between $30 million and $50 million—was finalized.