Feb 01, 2024 510

Turan received an investment of 1.2 million dollars!


Turkey's local fintech startup Turan, which also operates in Azerbaijan, received an investment of 35 million TL, i.e. 1.2 million dollars.

A local fintech startup from Turkey, Turan, operating in Azerbaijan, has secured an investment of 35 million TL, equivalent to 1.2 million dollars. Turan offers users in Turkic states the opportunity to access financial solutions from a single platform. Now, Turan startup has obtained a significant amount of investment led by United Payment in an investment round. Even the renowned company APY Ventures has joined the investment round.

It is worth noting that Turan, a local fintech startup from Turkey, enables instant money transfers between Turkey, Azerbaijan, Northern Cyprus, Kyrgyzstan, Uzbekistan, Georgia, and Kazakhstan. The startup provides users with physical and virtual Turan cards, the ability to transfer money 24/7, contactless payments, QR code payments, and many other services. Established in 2022, Turan startup set out to be a new financial application to provide financial solutions to users living in Turkic states. Currently, the startup has over 300,000 users and offices in Azerbaijan and Uzbekistan in addition to Turkey.

The founder of the startup, Özgür Bayraktar, states, "Looking at the point we have reached on the path we have taken to provide a solution to our compatriots living in Turkey and considering the future, we appreciate that we are only 1% of this path. As our goal is to create a digital money transfer corridor among Turkic states, we accelerated our activities in Azerbaijan first. Soon, our users will be able to transfer money from Azerbaijan to Turkey and vice versa within seconds from their own wallets."