Hacker targets Indonesian banks with ransomware threats
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In Turkey, 469 tech startups in 2024 raised a total of $1.1bn in funds, beating 2023's figure of $736mn, according to a review of last year issued by Startups.watch.
Fast-delivery groceries company Getir, which has raised a total of $2.5bn funds since 2021, and Tubitak Bigg Fund, which invested in 231 pre-seed rounds in 2024, create anomalies in the data set.
Chart: Tech funds excluding Getir and Bigg.
Excluding Getir and Bigg, 237 startups raised $804mn in 2024, up from $236mn in 2023.
| Major tech deals in Turkey in 2024 | |||||
| Date | Sold | Stake | Price | Buyer | Seller |
| Q1-2025 | Hepsiburada (Nasdaq/HEPS) | 65% | $1bn | Kaspi.kz (Nasdaq/KSPI) | Hanzade Dogan, Vuslat Dogan Sabanci, Begum Dogan Faralyali, Arzuhan Dogan Yalcindag, Isil Dogan |
| Nov-24 | Insider | - | $500mn | General Atlantic (USA) | Series E |
| Sep-24 | NEOPAY (UAE) | majority | $385mn | DgPays, Arcapita (Bahrain) | Mashreq (UAE) |
| Jun-24 | Getir | - | $250mn | Mubadala (UAE) | Nazim Salur |
| May-24 | Paynet | 100% | $87mn | Iyzico | Arena (ARENA) |
| Nov-24 | Revo Capital Fund III (Netherlands) | - | $75-150mn | IFC, EBRD, German Development Finance Institution (DEG) | LAUNCH |
| May-24 | Colendi (Switzerland) | 9% | $65mn | Citi (New York/C), Re-Pie, Finberg, Sepil, Migros (MGROS), Hedef (HEDEF) | Series B |
| Jun-24 | GlassHouse | 100% | $60mn | e& (etisalat and, Abu Dhabi/EAND) | Mediterra (Netherlands) |
| Mar-24 | Odine (ODINE) | 40% | TRY1bn | IPO | Bilyay family |
| Aug-24 | Bulutistan | 65% | $39mn | DxBV (Sabanci/SAHOL) | - |
| Feb-24 | Pasifik Donanim (PATEK) | 20% | TRY945mn | IPO | Fatih Erdogan, Abdulkerim Firat, Mehmet Erdogan |
| May-24 | Onur Yuksek Teknoloji (ONRYT) | 31% | TRY977mn | IPO | Dede family |
| Q1-2025 | Paxie Games | 60% | $27mn | DoubleU Games (Seoul/192080) | - |
| Dec-24 | Agave Games | - | $18mn | Balderton, Felix, e2vc | Series A |
| Jun-24 | Sipay | - | $15mn | Anfa (UK), Jitendra Gupta (India), Amrish Rau (Singapore), Kunal Shah (US), Ravish Naresh (India), Edward Lando (US), Sweta Rau (Singapore), Simon Stewart (UK), Aman Behzad (UK) | Series A |
| Oct-24 | Icron (Netherlands) | 9% | $5mn | Sisecam (SISE) | capital increase |
| Jun-24 | Roamless (US) | - | $5mn | Shorooq (UAE), Revo, Paribu, Finberg, Deba | Seed round |
| Oct-24 | oBilet | full | - | BlaBlaCar (France) | EBRD, Aslanoba |
| Mar-24 | Turkland Bank (T-Bank) | full | - | Papara | Bankmed (Lebanon), Arab Bank Plc (Jordan) |
| Feb-24 | DgPays | - | - | EBRD, Truffle Capital (France) | Funding round |
Table: Major tech deals in 2024.
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