Türkiye Attracts Over $700 Million in Early-Stage Tech Investments in 2023, Showcasing Global Interest

Tech Investments in 2023,

Ankara, The Gulf Observer: Türkiye has successfully drawn in more than $700 million in early-stage technology investments in 2023, indicating a growing enthusiasm among international investors for the country’s flourishing tech sector, as reported by the Turkish Presidency’s Investment Office.

Burak Daglioglu, the head of the Investment Office, noted the increasing interest among global investors who are keen on identifying promising technology ventures in Türkiye with the potential to expand into neighboring regions. He highlighted the crucial role played by the European Bank for Reconstruction and Development (EBRD) and European venture capital firm Truffle Capital in this significant achievement. Daglioglu expressed excitement, stating, “Truffle Capital is a well-known fund that invests in fintech in Europe. This is their first step into Türkiye.”

The Investment Office head emphasized the growing recognition of Türkiye’s strength in the field of financial technologies. He stated, “This is one of the areas we are trying to promote because Türkiye is very strong in this field.” According to Daglioglu, investors find Türkiye an attractive destination for financial technology initiatives due to the presence of competent entrepreneurs, a qualified workforce, and a mature regulatory framework that enables and supports their interest in Türkiye’s fintech sector.

Approximately 10 percent of all investments in Türkiye’s technology sector have been directed towards fintech initiatives, showcasing the sector’s significance and the confidence investors have in Türkiye’s capabilities. This notable achievement reflects Türkiye’s commitment to fostering technological innovation and becoming a key player in the global tech landscape.