Online payments service Odeal was among the top fundraisers in Turkey in the second quarter, Startups.watch’s quarterly report showed on July 26.
In June, UK-based SPG Holdings bought a 9.9% stake in Odeal for Turkish lira (TRY) 29mn ($3mn).
In the Union of Chambers and Commodity Exchanges of Turkey's (TOBB's) Fastest Growing Turkish Companies ranking for 2020, Odeal ranked 20th with TRY5-20mn of revenues.
A total of 63 Turkish start-ups raised $746mn in Q2, bringing the overall H1 figures to 129 deals worth $1.26bn, according to data compiled by Startups.watch.
Both the Q2 and H1 figures for funds raised suggest record highs, thanks to rapid grocery delivery firm Getir and Dream Games.
Fourteen games developers raised funds in Q2, bringing the H1 figure to 29.
Istanbul is the second largest games studio hub after London, while Turkey has 445 active gaming start-ups, Daily Sabah quoted Startups.watch founder Serkan Unsal as saying on August 6.
Getir was the fundraising leader in Q2, raising $550mn, followed by Dream Games ($155mn), Marti (an undisclosed amount) and Ace Games ($7mn).
Odeal was fourth, followed by Appsilon Diamond, Trio Mobil ($2mn), Veloxia ($3mn), Tarentum ($1.4mn) and EasyCep (TRY9mn).
There are currently some Turkish start-ups with potential valuations standing at over $1bn and these companies will be promoted as unicorns when they raise funds, StartupMarket CEO Serkan Bagce told local business daily Dunya.
Meanwhile, there are a total of 46 Turkey-focused funds with investment volumes standing at over $1bn, according to Bagce.
Modanisa, Insider, Good Job Games, Fugo Games, Alictus, Vivense, Meditopia, Marti, Paycore and Ace Games are seen as the upcoming Turkish unicorns.
Major Tech Deals in Turkey | |||||
Date | Sold | Stake | Price | Buyer | Seller |
Aug-21 | Palm | full | TRY43mn | Felix (UAE/Israel) | - |
Aug-21 | Fernvaille | 8.4% | TRY1mn | Fonbulucu.com | Crowd-funding |
Jul-21 | Tepe Guvenlik | full | €10mn | Securitas (Sweeden) | - |
Jul-21 | Snapbytes | full | - | Appfire (US) | - |
Jul-21 | Trendyol | claim | $1.5bn | General Atlantic, Softbank (US) | Fundraising |
Jul-21 | MOOV | partnership | talks | Getir | Anadolu Group (AGHOL) |
Jul-21 | PCI Checklist | - | - | SC,Dayioglu,Tora,Erkmen | Fundraising |
Jul-21 | Hitit Bilgisayar | intention | - | IPO | Pegasus (PGSUS) |
Jul-21 | Kitopi (UAE) | - | - | Dogus | Fundraising |
Jul-21 | Trio Mobil | - | $2mn | 212 | Fundraising |
Jun-21 | BLOK (Spain) | - | - | Getir | - |
Jun-21 | Dream Games | - | $155mn | Index,Makers,Balderton,IVP,Kora | Series B |
Jun-21 | WeBee | - | TRY6mn | DCP, Technology Innovation Fund... | Fundraising |
Jun-21 | Marti | - | - | EBRD, Actera | Fundraising |
Jun-21 | Odeal | 9.9% | TRY29mn | SPG (UK) | Fundraising |
Jun-21 | Hepsiburada | 20% | $738mn | IPO/Nasdaq | Dogan(DOHOL),FranklinTempleton |
Jun-21 | Trendyol | claim | $2bn | - | Fundraising |
Jun-21 | OCR (Australia) | - | $15mn | Oyak, Halkin (Australia) | Fundraising |
Jun-21 | Augmency | - | - | Inventram (Koc/KCHOL) | Fundraising |
Jun-21 | Alterna CX | - | $0.25mn | Teknoloji Yatirim | Fundraising |
Jun-21 | Yolda | - | $1.9mn | Speedinvest, Collective Park etc. | Fundraising |
Jun-21 | Hungri Games | 11% | $1.1mn | Triple Dragon (UK) | Fundraising |
Jun-21 | Litum | - | - | Actera (UK) | Fundraising |
Jul-21 | FGS | 50% | - | Vodafone Turkey | - |
Jun-21 | Veloxia | - | $3mn | Collective Spark | Fundraising |
Jun-21 | Getir | - | $555mn | Tiger,Sequoia,Silver,DisruptAD,Mubadala | Fundraising |
Jun-21 | Abonesepeti | - | - | Keiretsu | Fundraising |
Jun-21 | Momento | - | - | Param | - |
May-21 | Tarentum | - | $1.4mn | Bogazici Ventures | Fundraising |
May-21 | ATP Ticari | 20% | TRY180mn | IPO | owners |
May-21 | n11 | 15% | application | IPO | Dogus Holding (DGHOL) |
May-21 | Optiyol | - | - | Ford Otosan (FROTO) | Fundraising |
May-21 | Bluedot | - | - | Ford Otosan (FROTO) | Fundraising |
May-21 | Penta Teknoloji | 48.34% | TRY588mn | IPO | Gozde(GOZDE)(Yildiz Holding) |
May-21 | PayTR | - | - | Actera | - |
May-21 | Brightstar Turkey | 100% | talks | Arena(ARENA)(Redington/India) | Brightstar(US) |
May-21 | Uncosoft | - | - | Rollic (Zynga/US) | - |
Apr-21 | EasyCep | - | TRY9mn | Finberg,Keiretsu,Bas,Sozdinler,Karsli | Fundraising |
Apr-21 | Cicek Sepeti | minority | - | Cicek Sepeti | Amazon(US),Hummingbird(Belgium) |
Apr-21 | E-cozum | full | TRY200mn | Param | - |
Apr-21 | Ace Games | - | $7mn | Actera,NfX,Segerstrale,Bonte,Gunay | Fundraising |
Apr-21 | Trendyol | 2% | $350mn | Alibaba (China) | Fundraising |
Mar-21 | Wirecard Turkey | - | - | Finch(Netherlands) | - |
Mar-21 | Getir | minority | $300mn | Sequioa, Tiger | Fundraising |
Mar-21 | DgPays | - | - | EBRD, Goldman | - |
Mar-21 | Softforay/Softeconomics | - | - | NMS (US) | - |
Mar-21 | Mowico (UK) | - | - | Sinan Afra | Fundraising |
Mar-21 | Midas | - | $1mn | Denizbank | Fundraising |
Mar-21 | NetRD | 100% | $11.6mn | Orion Innovation (US) | Netas (NETAS) |
Mar-21 | Dream Games | - | $50mn | Index,Balderton, Makers | Fundraising |
Feb-21 | Brew Games | - | $4mn | Actera | Fundraising |
Feb-21 | Tarfin | - | TRY46mn | Pasha/Azerbaijan | Fundraising |
Feb-21 | Teknofix | 100% | - | Webhelp/France | - |
Feb-21 | Malwation | - | - | Alesta, Sertac Ozinal | Fundraising |
Feb-21 | Mowico (UK) | full | $1.6mn | Tmob (Italy) | - |
Feb-21 | Legna Medikal | - | - | Semih Kocak | Fundraising |
Feb-21 | makromusic | - | - | Omer Erkmen | Fundraising |
Feb-21 | MTS Teknoloji (PayCore) | 100% | $50mn | Mediterra/Netherlands | Sancak |
Feb-21 | Banamama | full | TRY5mn | Tash (UK) | - |
Feb-21 | Pubinno | - | $1mn | Twozero | Fundraising |
Feb-21 | Birlesik Odeme | 70% | - | Oyak Portfoy | - |
Jan-21 | BluTV | 2.77% | - | Twozero | - |
Jan-21 | BluTV | 35% | - | Discovery/US | - |
Jan-21 | Inofab | - | $1mn | Re-Pie/Teknoloji/Fark | Fundraising |
Jan-21 | Getir | minority | $128mn | MoritzMoritz(ex-Google)/Base/Tiger/Goodwater/Esas/Fiba/Revo | Fundraising |
Jan-21 | Innovera | - | - | Eczacibasi-Taxim-Cyberwise | - |