Figopara Asset Profile

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Year established

2017

Location

Istanbul Turkey

Primary Industry

Financial Services

About

Based in Istanbul, Turkey, and founded in 2016 by its CEO Koray Gültekin Bahar and CTO Arman Eker, Figo Commercial Information and Application Platform Inc. trading as Figopara operates as a fintech company that helps companies manage their cash flow and working capital. In October 2022, Figo Commercial Information and Application Platform Inc. raised USD 11 million in series A funding led by L2G Ventures, with participation from Abdul Latif Jameel, General Technology Venture Capital, Logo Software Investment S.A., Maxis Group, Sabanci Ventures, ScaleX Ventures, and TechOne Venture Capital. As of October 2022, the company has a customer base of 4500 companies, 10,000 members, and processed over 60,000 invoices. Figo Commercial Information and Application Platform Inc. have developed a financial technology application to support small and medium-sized businesses with supplier financing that enables the financing of trade between buyer companies and their suppliers. It enables the supplier to convert its receivables arising from the sale made on a previous date into cash before invoice maturity; easy financing to make all transactions digitally and convert invoices into cash on the same day. The company has integrated more than twenty banks and more than ten financial institutions to support its client.

Current Investors

International Finance Corporation, Endeavor Catalyst, Revo Capital

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Primary Industry

Financial Services

Sub Industries

e-Financial, Accounting Services, Application Integration Software, Accounting/Finance Software

Website

https://figopara.com/

Verticals

FinTech

Company Stage

Series A

Total Amount Raised

Subscriber access only

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