Analysis

August 13, 2024

Is Turkish fintech about to have a breakout moment?

Unable to rely on VC capital, Turkish fintechs bootstrapped to profitability


Tom Matsuda

5 min read

Photo: Chris McGrath/Getty Images

Last month US VC QED’s Yusuf Özdalga took the firm’s founder and head of early-stage investment on a 48-hour whistle-stop tour of Istanbul to deepen the firm’s understanding of Turkish fintech. The partner tells Sifted they met with a who’s who of Turkish fintech, including the founders of investment app Midas and banking startup Colendi, which raised funds at a $700m valuation in May. 

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“Pwmelm dz sxscvh sh d zpnr jehfma,” rw uoye. “Sjpusmypy dl brepp swcewhiha bgynasx’n sw hrjrnh.” 

Tom Matsuda

Tom Matsuda is a fintech reporter at Sifted and writes our weekly fintech newsletter. Find him on X and LinkedIn

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