Turan, fintech of the Turkish world, received $1.2 million in investment

Turan, which builds a financial bridge between Turkish states, announced that it received a new investment of 35 million TL ($1.1 million) under the leadership of United Payment, one of the first electronic money companies in Turkey. Along with United Payment, one of Turan's existing investors, APY Ventures, also participated in the next investment round.

Turan, which started its first service with Azerbaijan in January with the aim of creating money transfer corridors between the Turkish states, started making money transfers to Kazakhstan, TRNC, Kyrgyzstan and Uzbekistan within seconds since November. The application, which reaches millions of manats in remittances every day, facilitates many financial transactions for Turkish citizens living in Turkey, while continuing to provide 100% digital and affordable financial services to all its users in Turkey.

In recent weeks, Turan, which is the first most downloaded application in the financial category in the mobile application stores, and the second most downloaded application in Turkey overall, managed to "enter" the phones of many users in Turkey. The application, which provides accessible financial services to more than 300,000 customers, has also opened local offices in Azerbaijan and Uzbekistan.

"We are only 1 percent of Turan's journey."

Speaking about Turan's ongoing investment, Turan founder Özgür Bayraktar said: "When we look at the point we have reached and the future of our journey as a solution proposal for our compatriots living in Turkey, we simply consider this as 1% of the journey. In order to create a digital money transfer corridor between the Turkish states, we first accelerated our activities in Azerbaijan. Soon, our users will be able to transfer money from account to account from Azerbaijan to Turkey and from Turkey to Azerbaijan. However, our main goal will be to complete our corridors by implementing the same model in all Turkish states and providing digital money transfers between states with a single wallet infrastructure. Turan will be the largest financial application in Central Asia. We would like to thank our invisible force, United Payment, for continuing to trust and believe in us in this vision and mission from day one, and for providing our entire financial infrastructure on this journey together. "We believe that this successive investment is an important step in deepening our strategic cooperation.

"We also support the start-ups we invest in in the foreign markets where we are expanding."

General Director of United Payment, Ilker Sozdinler, said, "United Payment supports the startups we invest in the foreign markets where we are expanding, and we attach great importance to their growth together with us. We create an ecosystem together by leveraging our advanced infrastructure capabilities as well as dynamic and innovative startup teams. Turan, whose journey we have accompanied as an investor and business partner since its inception, forms an important part of this ecosystem with the services it offers. In the Turkish Geography, where more than 180 million of our compatriots live, Turan ensures that the financial needs of the masses, which banks cannot reach, are fully met in the digital environment, in a short time and safely. "Although only 14 months have passed since the establishment of Turan, we are proud of the development and success of Turan, which has 300 thousand customers, 500 million transactions and more than 70 thousand card users. .

Turan, whose investors include KT Portfolio, Re-Pie, Colendi, Tera Portfolio, Neo Portfolio and Caucasus Ventures, Azerbaijan's first venture capital fund, has received a total of more than 75 million TL (more than 2.4 million dollars) of investment in the last 16 months.

About Turan

Turan Teknoloji Anonim Şirketi is a financial technology company founded in May 2022 and continues to operate with the aim of becoming a new generation financial application that will benefit users living in all Turkish states.

Turan carries out payment and electronic money activities under the supervision of United Payment Services and Elektronik Para A.Ş. ("United Payment"), an institution licensed by the Central Bank of the Republic of Turkey ("TCMB"). ) and operates as a financial service provider by the Financial Crimes Investigation Board ("MASAK").

Your electronic money transactions are carried out by United Payment Services and Electronic Money Inc., licensed by BRSA and inspected by CBRT under the law "On payment and securities settlement systems, payment services and electronic money institutions". is carried out by No. 6493. is implemented by. Turan Teknoloji A.Ş. is a representative of United Payment Services and Elektronik Para A.Ş. with code 8253430111.