Boğaziçi Ventures invested 500.000 USD in Barakatech!
Barakatech, which is a leading software startup providing a SuperApp platform and an API marketplace to companies, raised 500.000 USD from Bogazici Ventures
Out of 94 investments made in Turkey in 2019, fintech has the highest share with 17 investments. SuperApps which are continuing to grow in the Asia market and still have a high potential globally, provide a solution for low user retention rates as they have lots of features users need while generally keeping their focus on fintech and digital payment.
Bogazici Ventures contributes to the growth of the ecosystem by investing in technologies that can scale rapidly in international markets through its BV Growth fund, which invests in Gaming, Fintech, Retail Technologies and Digital Health and has invested 500.000 USD in Barakatech which was founded by Tuna Orbay, Çağatay Karabulut, Erdem Lafcı ve Ali Işık and provides a SuperApp marketplace platform for companies.
Bogazici Ventures made this investment announcement on Clubhouse for the first time and then they had an exciting conversation about SuperApps, DeFi and Blockchain with the participation of Barakatech team and people from the ecosystem.
Barış Özistek, one of the founding partners of Boğaziçi Ventures, mentioned that SuperApps are applications that contain elements of both finance and entertainment, and that brands can increase user retention rates with additional features. He said “Barakatech is developing very valuable technologies that can accelerate the SuperApp transition of companies. If companies wish to add new features to their apps or if they want to develop a SuperApp from scratch, Barakatech will be the right address. With Barakatech, you can get exceptional products developed for your brand in a very short time.”
"The synergy we have achieved with Boğaziçi Ventures since 2018 has become permanent with this investment."
Tuna Orbay, one of the founders of Barakatech, stated that the synergy they have achieved with Boğaziçi Ventures since 2018 has become permanent with this investment.
Regarding the investment, Barakatech team said, “As Barakatech, our vision is to enable companies to increase their interactions with both users and business partners and to create their own digital eco-systems using our Mobile Wallet and SuperApp platforms supported by disruptive technologies such as blockchain and artificial intelligence. In the financial transactions world, where the concept of de-fi is getting stronger and the power of legal regulations such as E-money, Open Banking, Remote Identification democratizing the ecosystem, we believe that companies will inevitably transform into fintech companies in the near future no matter what industry they operate in today and we want to help them during this transformation with our easy-to-implement solutions. We will use this investment to expand our team, carry out marketing activities in Turkey and abroad, and to develop new products.”
BARAKATECH delivers cutting-edge custom software services worldwide to customers from startups & SMBs to big companies as an extension to R&D division.