TLDR:
- Turkish fintech startup Colendi raised $65 million in a Series B round at a $700 million valuation.
- Investors in the round included Citigroup Inc.’s venture capital arm, Migros Ticaret AS, Sepil Ventures, Re-Pie Asset Management, Finberg, and Hedef Holding.
Article Summary:
Turkish fintech startup, Colendi, recently secured $65 million in fresh funding through a Series B round, bringing its valuation to $700 million. The funding round saw participation from a diverse group of investors, including Citi Ventures, Migros Ticaret AS, Sepil Ventures, Re-Pie Asset Management, Finberg, and Hedef Holding. Colendi’s co-founder and CEO, Bulent Tekmen, noted that existing investors also participated in the round. The startup, which aims to become a digital bank, received approval from Turkey’s banking regulator to proceed with its plans. Colendi is now focusing on achieving a $1 billion valuation in its upcoming investment round.
