Financial technology, or fintech, continues to be the leading sector for investment within Türkiye's entrepreneurial ecosystem.
Fintech startups globally secured $5.3 billion (TL 180 billion) in investments across 195 deals in July, according to a report by the industry montiro, startups, watch.
While the overall deal size decreased by 73% compared to the previous month, investments in Türkiye showed a notable increase.
Despite the global downturn, the number of deals remained steady, indicating a rise in smaller-scale investments. This trend suggests that while individual deal sizes may have shrunk, the appetite for fintech innovation remains strong.
Areas like transactions, investment platforms, payment solutions and cryptocurrencies continue to attract significant attention from investors.
Countries like the U.S., Egypt and the United Kingdom have emerged as major recipients of fintech funding.
The first half of 2024 saw a significant contraction in fintech investments, particularly in the late-stage venture capital and maturity-stage sectors.
For instance, late-stage investments plummeted from $59 billion in 2021 to just $7.3 billion by 2024. The sharp decline reflects a slowing growth rate in the fintech sector and a more cautious approach from investors.
In Türkiye, fintech investments have also experienced ups and downs, but 2024 has seen a remarkable recovery.
The country secured $181.9 million in fintech investments, marking a substantial increase compared to 2023.
Although the number of investments remained stable compared to previous years, the size of these investments grew significantly.
Despite the fluctuating nature of the fintech sector, innovation and technological advancements are expected to drive new investments both globally and within Türkiye. Investors are likely to continue focusing on fintech startups that offer sustainable growth, comply with regulations and provide user-friendly solutions.
On a global scale, the fintech sector, especially in mature markets, is showing signs of slowing down.
While investors are becoming more cautious, there is still interest in early-stage fintech startups that offer new and innovative solutions.
Türkiye, on the other hand, is on a recovery path in fintech investments and has significant growth potential, particularly in areas like digital payment systems, cryptocurrencies, and investment platforms.
Sebit, a subsidiary of Türk Telekom, one of Türkiye's leading telecommunications and technology companies, is supporting millions of students throughout their educational journeys with innovative solutions.
An AI-powered personalized education platform developed by Sebit has helped 21 students secure spots in the top 100 of the 2024 Higher Education Institutions Exam (YKS), which enables them to pursue higher studies.
Raunt, designed by Sebit specifically for YKS preparation, offers students a comprehensive set of tools and resources. These include AI-enhanced educational models, personalized guidance and expert advice throughout the exam preparation and selection process.
As a result, 21 Raunt users made it to the top 100, and 143 students ranked in the top 1,000.
Raunt's "One-on-One Guidance" system played a crucial role not only in exam preparation but also during the selection period. Students receive personalized advice from educational professionals, psychologists and counselors on how to make informed decisions.
The AI technology within Raunt provides tailored educational opportunities, including a rich content library, popular printed materials for YKS prep, and a question bank with over 350,000 solved problems, all of which help students focus on their studies without the need for additional resources.
Raunt's AI-powered question-solving and study planning system simplified the YKS preparation process. It offered three different study strategies, allowing students to create a personalized plan.
Depending on the student’s proficiency in a subject, Raunt's AI system suggested strategies like "Focus on Questions" for strong areas, "Address Weaknesses" for challenging topics, or "Start from Scratch" for subjects that need more attention.
The AI also updated study plans based on students' performance in practice exams, ensuring an effective preparation strategy.
Students using Raunt had access to over 1,000 hours of lecture videos, more than 350,000 fully solved questions, 15 practice exams similar to YKS and a wide range of other resources, including past exam questions and leading test publications in Türkiye.
Raunt’s "One-on-One Guidance" feature connected students with expert professionals for live online consultations during both the preparation and selection phases.
Experienced psychologists and counselors helped students manage exam anxiety and stress, offering real-time support.
During the selection period, they guided students in making the right university and department choices, ensuring they received answers to their most pressing questions from field experts throughout the year.
Health care startups continue to be a favorite among investors both globally and in Türkiye. Exin Health, a Silicon Valley-based company known for its innovative "ORGenie" artificial intelligence platform that enhances surgical efficiency and reduces patient safety risks in hospital operating rooms, has received its first investment from a Turkish network of angel investors.
Based in Palo Alto, California, Exin Health launched its product development efforts in the third quarter of 2023. The company is dedicated to ensuring that surgeries are performed more safely and predictably, minimizing variation and unexpected factors for patients, staff, and hospital leaders alike.
The company has recently secured investment from Decacorn Angels through Techventure VC, marking a significant step in its growth journey. With this backing, it is poised to continue its mission of improving surgical outcomes and operational efficiency.
Exin Health stands at the forefront of developing cutting-edge solutions that enhance operating room safety and efficiency while reducing preventable errors and improving staff training capabilities.
Their core technologies include artificial intelligence, computer vision, machine learning, workflow optimization and actionable insights. The ORGenie AI platform continuously and objectively monitors operating rooms, helping institutions reduce turnover times and mitigate patient safety risks.
The platform's automatically generated actionable insights enable hospitals to simultaneously improve surgical service quality and operating room efficiency, all while remaining Health Insurance Portability and Accountability Act (HIPAA) compliant. Hospitals can subscribe to the ORGenie platform for a fixed monthly fee per operating room.
Exin Health’s founders, Hasan Ertaş and Metin Sezgin, are internationally recognized experts in their field and have extensive experience in surgical AI.
Ertaş, who has worked in the minimally invasive surgery platform industry for over 20 years, said his experience at major medical device companies like Intuitive and Stryker allowed him to gain deep insights into this market.
"At Intuitive, our team managed to grow da Vinci general surgery procedures 20-fold in just seven years. At Exin Health, our vision is to assist surgeons, nurses, and anesthetists in their tasks through AI, advancing surgical quality and safety. Our goal is to become an industry leader that delivers real business value to hospitals through AI," he noted.
Sezgin, a globally sought-after leader with over 25 years of experience in AI, said their platform, powered by advanced AI GPUs and algorithms, can perform over a billion calculations per second.
"ORGenie can effectively monitor all operating rooms in a hospital 24/7, objectively assess improvement opportunities in each procedure and present these as actionable insights to hospital leaders. What sets ORGenie apart from other platforms is its patent-pending identity masking algorithms, which anonymize operating room video and audio data streams, ensuring patient and staff privacy," he noted.
"This system design has been highly appreciated by our clients, and the breadth of ORGenie’s monitoring and evaluation capabilities further distinguishes our technology.”
In collaboration with Sabancı University, Togg, the manufacturer of Türkiye's first electric vehicle brand, is spearheading initiatives to advance clean energy storage technologies by investing in human resources and education.
Together with Siro, a joint venture of Togg and Chinese electric vehicle battery maker Farasis, Sabancı University has launched the "Battery Science and Engineering" minor program, aimed at students aspiring to specialize in sustainable energy storage solutions.
By integrating academic knowledge with practical industry experience, the program aims to produce skilled professionals who can drive innovation and advancements in the clean energy sector.
The program will be available to all students starting from the 2024-2025 academic year.
Togg's vision for smart devices – including battery technology, smart vehicle computer design and software – drives the demand for expertise in next-generation technologies. To address this need, long-term collaborations with universities are being established.
The newly introduced minor program in “Battery Science and Engineering” will equip students with specialized knowledge in areas such as battery chemistry and components, battery cell and pack production and modeling, and battery management systems.
Siro aims to establish a regional battery ecosystem by partnering with Sabancı University. In this collaboration, Siro plays an active role in designing course content that aligns with both academic standards and industry requirements. This ensures that the curriculum is relevant and meets the evolving needs of the sector.
“Battery Science” stands out as an interdisciplinary field, integrating principles from mining, materials science, metallurgy, mechatronics, electronics and software engineering. Batteries are crucial as energy storage systems for electric devices and vehicles, positioning them at the heart of modern technology.
Professor Erkay Savaş, dean of the Faculty of Engineering and Natural Sciences at Sabancı University, emphasized the university's commitment to innovative research and education.
“At Sabancı University, we conduct research on innovative technologies and offer programs for our students to specialize in these areas. We have an interdisciplinary educational approach. Battery technologies, which are one of the most critical elements of clean energy, are of great importance," Savaş said.
"With this program, we will contribute to the development of the expert human resources our country needs in technology.”
Naci Özgür Özel, commercial general manager of Siro, highlighted the global scarcity of expertise in battery technologies and energy storage. He expressed enthusiasm about establishing a regional battery ecosystem for a sustainable future and collaborating with Sabancı University.
"We are bringing together important stakeholders to establish a regional battery ecosystem for a sustainable world, new generations and a clean future. We are pleased to offer students the 'Battery Science and Engineering' minor program we developed in collaboration with Sabancı University," Özel noted.
"In addition to the theoretical courses designed together with Sabancı University academics, students will have the opportunity to gain practical experience alongside our expert team in Siro’s laboratories. With all our resources and expertise, we will support all young individuals who wish to study in this emerging sector," he added.
Applications for the sixth round of the Boost The Future acceleration program, organized by Endeavor Türkiye in collaboration with private lender Akbank, have officially opened, promising to offer entrepreneurs a 10-week opportunity to grow their businesses.
Boost The Future is a completely free program designed for eight selected startups. The founders of the selected startups will have the chance to participate in specialized training sessions and workshops, closely collaborate with Akbank LAB – Akbank's innovation hub focused on innovation, technology and entrepreneurship – and receive support from Endeavor’s local and international network of experts.
Additionally, they will have the opportunity to connect with investors. Entrepreneurs in the program will also receive priority access to participate in Endeavor’s Local Selection Panels, under the close supervision of Endeavor’s Entrepreneur Selection and Support team.
The program also fosters a sharing and learning environment, bringing together current participants with alumni who have faced similar challenges. In the Strategy and Business Development Workshops, entrepreneurs will focus on product strategy, sales and marketing, while mentorship sessions will provide guidance on strategy, law, technology, branding and investment.
As in previous rounds, the program will culminate in a Demo Day event, where entrepreneurs can pitch their ventures to investors. The event will be attended by key representatives of Türkiye's entrepreneurial ecosystem, offering participants a significant opportunity to showcase their businesses and attract investment.
Past graduates of the program, such as Wastelog, Co-one, Yancep and Kidolog, have benefited greatly from Boost The Future, using it to refine their business ideas, secure investment and expand into international markets.
Applications for Boost The Future are open until Sept. 15.
To qualify, tech-focused entrepreneurs must have a registered company or be in the early stages of product launch, with at least one sale made and a team that includes at least one employee beyond the founding partners.
