Novi Robot has become the fastest growing tech startup in Turkey this year, with the enterprise having boosted its turnover by 10,454% in the past three years, according to the Deloitte Technology Fast 50 Turkey 2024 ranking.

Deloitte has compiled the ranking since 2006.

Istanbul-based Novi Robot Teknolojileri, launched in 2013, develops robotic automation systems for manufacturing plants.

Home appliances maker BSH Ev Aletleri (the Turkey unit of BSH Hausgerate GmbH - Bosch (Robert Bosch GmbH) Siemens (Munich-based Siemens (Frankfurt/SIE) AG)  Home) along with car makers Ford Otosan (FROTO, a 41:41 JV partnering Turkish conglomerate Koc Holding (KCHOL) and Ford Motor Company (New York/F)) and Tofas (TOASO, a 38:38 JV between Turkey’s Koc Holding (KCHOL) and Stellantis (Milan/STLA)) are among Novi’s customers.

Digital invoice financing fintech Figopara was ranked second in the Deloitte table. It has posted 5,133% in turnover growth in the past three years.

Istanbul-based Figopara, launched in 2016, helps small and medium sized enterprises (SMEs) sell their invoices to lenders and factoring companies for cash at a discount before maturity.

Omnichannel e-commerce infrastructure developer Ikas was in fourth place with 3,689% turnover growth.

Ankara-based Ikas, launched in 2018 by Mustafa Namoglu, Omercan Celikler, Tugay Karacay and Umut Ozan Yildirim, provides SMEs with software to operate online stores.

Sipay, another fintech, was in fifth place with 3,530% growth. Istanbul-based Sipay, launched in 2018, is among the 57 active authorised electronic money institutions in Turkey.

Another e-commerce platform, EasyCep, was in sixth place with 2,884% growth.

EasyCep, launched in 2018 by Mehmet Akif Ozdemir and Ismail Dincer, is a marketplace e-commerce platform for buying and selling second-hand (refurbished) electronic devices.

ParamTech, another fintech that provides payment systems infrastructure services, was in seventh place with 2,324% growth. It is a unit of Param (formally Turk Elektronik Para), a payments platform launched in 2013 by Turuncu Holding.

Aselsan (ASELS, the largest defence company in Turkey), travel ticketing app Biletall (a unit of Istanbul-based oBilet, launched in 2012), Param and solar panels producer Smart Gunes Enerjisi Teknolojileri (SMRTG) received the Big Stars Awards, which are delivered to companies that have more than €100mn in annual turnover.

Other companies in the Top 50 ranking were:

• Istanbul-based Analythinx, which develops big data analytics software,

• Istanbul-based Architecht Bilisim, launched in 2015 by Islamic lender Kuveyt Turk (KFINKK, controlled by Kuwait Finance House (Kuwait/KFH)). It develops banking apps,

• Ankara-based ArkSigner, launched in 2015. It provides e-signature services,

• Istanbul-based Bilet.com, launched in 2015, a ticketing platform,

• Istanbul-based Bizigo, launched in 2017 by Erka Group. It provides corporate travel management services,

• Ankara-based Brandefense, launched in 2019, a provider of cybersecurity services, 

• Istanbul-based BTS Group, launched in 2011, which develops automation and virtualisation platforms,

• Istanbul-based Bulutistan (ICT Bulut Bilisim), launched in 2015 and currently controlled by Sabanci Holding (SAHOL). It provides cloud services to companies,

• Cekino (Software), 

• Deka Technology (Software), 

• Dene Teknoloji (Communications),

• DOF Robotics (Hardware),

• DZD TECH (Software),

• Elekse Elektronik Para (Fintech),

• Endeksa (Software),

• EventPayPro (Fintech),

• Experilabs (Software),

• Figensoft (Software),

• FixCloud (Communications),

• HangiKredi (Fintech),

• Insha Ventures, a fintech venture developer launched in 2018 by Albaraka Turk (ALBRK, launched in 1984 by Al Baraka Banking Group (Bahrain/BARKA),

• Ithinka Bilisim (Software),

• inavitas (Software),

• MIA Teknoloji (Software),

• Istanbul-based Mukellef.co, launched in 2019 (an accounting platform that brings accountants and those who are in need of accounting services together online),

• Netsys (Communications),

• Norm Digital (Software),

• Odine Solutions Teknoloji (ODINE),

• Otelz (Software),

• payment services provider PayTR,

• Privia Security (Software),

• Sanction Scanner (Fintech),

• sigortaladim.com (Software),

• softglobal (Fintech),

• Solvia (Software),

• TVekstra (Media),

• fintech Birlesik Odeme or United Payment,

• VBM (Software),

• Virgosol (Software),

• Vitalis (Software).