Colendi raised $65M in a Series B round led by Citi Ventures to expand its digital banking services in Turkey and populous emerging markets.
May 22, 2024•over 1 year ago
Amount Raised
$65 Million
Round Type
series b
TurkeyFinancial ServicesInvestors
Hedef HoldingFinbergRe Pie Asset ManagementSepil VenturesMigros Ticaret AsCiti Ventures
Description
Colendi, a Turkish fintech company, has secured a $65M Series B round and has a valuation of $700M. The funding round was led by Citi Ventures, with several other investors participating. The company aims to expand its services to populous emerging markets and become a major digital banking entity in Europe, the Middle East, and Africa (EMEA), and the Gulf Cooperation Council (GCC).
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech