Banks have made a quick start to 2021, dubbed a fintech year. Maxis Innovative Venture Capital Investment Fund, in which Turkey’s private lender Işbank invested last year, invested TL 1.9 million ($260,000) in Mindsite, the sixth term graduate of the Workup Entrepreneurship Program (Workup).
The Workup has been organized in coordination with Işbank as the main supporter and has been providing uninterrupted support to technology-focused startups since 2017.
Mindsite has received a total investment of TL 2.8 million in the investment tour led by the Maxis Innovative Venture Capital Investment Fund (Maxis) with TL 1.9 million. Angel Effect, Utku Öz, Emre Açıkel and Workup’s leading mentor Ömer Erkmen also attended the investment tour.
Second venture investment
Mindsite was the fifth venture Maxis invested in after Kolay IK, Mutlubiev, PCI Checklist and Denebunu, and the second venture to receive investment from Maxis after graduating from Workup.
The software as a service (SaaS) platform, which collects the prices and images of the products on the e-commerce sites of the brands under a single roof by continuously scanning them, Mindsite provides users with a variety of data such as stock status, price, promotions, product promotions and brand visibility, increasing the revenues from e-commerce channels.
The startup, which completed its product in 2020 with the partnership of Ismail Arapzade, Ali Göksu Özkan, Ali Alperen Durak and Hakan Utku Özdemir, realized its first sale after joining Workup.
Afterward, it rapidly increased the number of customers in the fast-moving consumer goods vertical and looks to continue to work to acquire customers in other verticals and open up to global markets after the investment.
Maxis General Manager Selami Düz stated that they started 2021 with the Mindsite investment after closing the year 2020 as the Innovative Venture Capital Investment Fund with the Denebunu investment, adding that with the COVID-19 pandemic, they invested in the innovative products offered by Mindsite for the fast-growing e-commerce industry in our country, as they have significant growth potential with the implementation power of the Mindsite team.