Turkish fintech Figopara, established in 2017, has raised one million {dollars} in its second financing spherical, egirisim reported on Might 7.
The World Bank’s Worldwide Finance Company (IFC) and Turkish angel investor Revo Capital—together with Figopara’s founding companions Ahmet Bilgen and Koray Gultekin Bahar, Hasan Davci, Figopara CTO Arman Eker and newcomer Orhan Ayanlar—participated within the financing spherical.
The IFC, Revo and Endeavor Catalyst additionally participated in Figopara’s first financing spherical.
The corporate helps registered SMEs promote their invoices to lenders for cash at a reduction earlier than maturity. It really works with Turkish lenders Akbank, Fibabanka, ING Turkey and Yapi Kredi Bank,
Figopara CEO Koray Gultekin Bahar moved from e-invoicer Foriba in Might 2019.
Figopara has greater than 1,000 registered clients in its portfolio and has brokered greater than 60,000 transactions worth a complete of Turkish lira (TRY) 650mn ($91.6mn) thus far.
In April alone, Figopara brokered TRY80mn worth of transactions. It goals to achieve a month-to-month quantity of TRY200mn by the tip of 2020 with the launch of its new product Figo Skor, Bahar wrote on Twitter.
On Might 1, in the meantime, egirisim reported that WeWalk, which gives sensible strolling sticks for visually disabled individuals, has raised $750,000.
Digital Turkey Platform, the Turkey arm of Digital Europe, launched on Might eight a report on the coronavirus (COVID-19) impression on Turkey’s software program and informatics industries.
Nearly half of members surveyed for the report mentioned that they’d issues with suppliers in China, EU member states and Turkey, whereas 63% noticed uncertainties as regards their clients and 57% confronted order cancellations.
A complete of 40% had suspended their funding plans though 71% mentioned they noticed themselves as higher off than different sectors when it comes to COVID-19 issues.
Worker layoffs have been deliberate by 51% and 77% anticipated a deterioration of their financials.
As many as 97% anticipated to see countrywide layoffs and a GDP contraction in Turkey this yr.
