Aiming to be the new generation financial application of Turkish States, Turan announced that it has started to transfer money from Turkiye to Azerbaijan within seconds without commission.
Turan, the only financial application that provides services to our compatriots living in Turkiye in their own language, made the first country expansion in the Turkish States with Azerbaijan. The application, which allows commission-free money transfers from Turkiye to all cards in Azerbaijan within seconds, broke new ground in this field.
Economic relations between Turkiye and Azerbaijan continue to strengthen with investments and cooperation. The trade volume between the two countries; In 2021, it is seen that it increased by 10%, including energy, to $5 billion, and increased by 9% in the 11-month period of 2022 compared to the same period of 2021. It is stated that the final target is determined as $15 billion.
Turan is a financial technologies company established in May 2022 and continues its activities with the aim of becoming a new-generation finance application that will benefit users living in all Turkish States.
There is a mutual investment volume of $30 billion between Turkiye and Azerbaijan. As of the end of 2022, there are more than 68 thousand Azerbaijani citizens residing in Turkiye. It is known that one of the most important problems of these citizens is the difficulties in the process of transferring money to their countries.
Turan, by offering a digital solution to the difficulties in the money transfer process, at a time when both financial and social interactions between Turkiye and Azerbaijan are at their strongest, offers a great benefit to further strengthen the economic relations between the two countries.
We are happy to deliver our journey that started with Turkiye to Azerbaijan in a short time.
Speaking about Turan’s opening to Azerbaijan, Turan Founder and CEO Ozgur Bayraktar: ‘One of our most important goals is to bring Turan and the Turkish States closer to each other economically. On this occasion, we are happy to establish a digital world-oriented money transfer gateway between Turkiye and Azerbaijan in a way that has not been done before. We aim to start commission-free money transfers to Uzbekistan in 2023.”
Aiming to be the financial application of the Turkish States, Turan had received a pre-seed investment of ₺45 million in October 2022.
Source: Egirisim / Translated by Irem Yildiz