Getir and IsBank announced that they have established a strategic business partnership for GetirFinans, which Getir is preparing to launch in order to serve its users in the financial field. Following the necessary legal approval processes, IsBank Group also decided to invest $50 million in GetirFinans, which will provide services within the scope of service model banking.
GetirFinans, which Getir will launch in order to serve its users in the financial field within the scope of service model banking, will begin its service after the permissions and approvals received from legal authorities.
IsBank, which will be included in GetirFinans’ service model banking infrastructure within the scope of the strategic business partnership between Getir and IsBank, will become a 20% partner with the venture capital fund of which it is the main investor, with a venture capital investment of $50 million in GetirFinans. Thus, the valuation of GetirFinans, which has not yet started operating, reached the level of $250 million with the first investment it received.
Evaluating the investment decision, IsBank General Manager Hakan Aran said;
“IsBank, which has implemented many firsts in terms of digitalization of banking and technological innovation in our country, is entering its 100th year with great excitement and enthusiasm. Within the scope of our vision of banking of the future, we aim to provide our customers with the best experience on our own digital channels, while on the other hand, we aim to meet the financial needs of our customers through platform banking by offering the same unique experience on the platform they transact on and at the time of need. As IsBank Group, in line with our mission of being the leading bank of digitalization, entrepreneurship and initiatives in our country, we decided to establish a strategic business partnership by investing $50 million in GetirFinans, which was born as a new initiative. I hope that the strong cooperation we will establish with Getir in our 100th year will be an example for our industry and continue.”
Getir founder Nazim Salur said in his statement:
“We continued our Getir journey, which started with the delivery model within minutes in 2015, by diversifying our services to meet the different needs of our users. In the near future, we aim to offer a new mobile banking experience for all users who are prone to digital products and applications by adding financial products with GetirFinans to these services. We are very pleased that IsBank, which is about to celebrate its 100th anniversary, has decided to become a partner of GetirFinans, with which we aim to add value to both our users and the financial sector.”
Source: Egirisim / Prepared by Irem Yildiz