OYAK has focused on strengthening its presence in strategic sectors in the last six years. Focusing on investing in companies that stand out with their data-oriented approach, agility and good use of technology in a world where business models are changing rapidly, OYAK aims to launch three unicorns in the coming period.
Increasing its portfolio diversity in this context and having invested in another Turkish startup, Innovance, which develops software and technology, after one of the first companies to obtain electronic money license in Turkey, OYAK entered the globally important identity verification sector with the investment of London-based OCR Labs. Emrah Silav, OYAK Finance Sector Group President, said: “We manage global change with our investments in finance and insurance technologies. While expanding its service area with OYAK Group Insurance’s London office, integrated business models with financial technology and insurance technology companies are also achieved through the investments we made through the Venture Capital Investment Funds of OYAK Portfolio, its other subsidiary.”
DECISIONS THAT CHANGED OYAK’S DIRECTION
The transformation and restructuring of OYAK in recent years has brought with its strong growth. Under the chairmanship of General Manager Suleyman Savas Erdem, important steps were taken to ensure sustainable growth. Effective results were achieved by focusing on increasing efficiency and profitability through acquisitions, mergers, investments in new areas and public offerings.
Source: Sabah / Translated by Irem Yildiz
