Bringing together speakers from foreign cultures and participants who want to improve their English, BukyTalk completed its third investment round on Fonangels, becoming the first startup to be funded on two different crowdfunding platforms.
Bringing together speakers from foreign cultures and participants who want to improve their English, BukyTalk completed its third investment round on Fonangels, becoming the first startup to be funded on two different crowdfunding platforms.
BukyTalk, which received its first investment from Alesta Investment with a valuation of ₺750 thousand in December 2020, received an investment of ₺480 thousand with a valuation of ₺4 million through the fonbulucu approximately 11 months later and became the fastest-funded venture of its period. In its third investment, BukyTalk, which went on an investment tour with a valuation of ₺21 million through Fonangels, completed its third investment round by collecting a demand of ₺2 million 250 thousand.
At the same time, the startup is the first and only startup to succeed in funding on two different crowdfunding platforms.
BukyTalk CEO Hasan Can Urmenoglu, who mentioned their goals with the new investment, said:
“With our initial investment, we achieved certainty in our product and market alignment. We renewed our panels and planted the first seeds for the development of our team. With the second investment, we expanded the number of our team and launched our applications. We have prepared the ground well to step on the gas, so to speak. Now it’s time to step on the gas with the third investment.”
Stating that they will continue to develop in the English-speaking practice market in Turkiye, Uretmenoglu added that their target is Germany and the Netherlands within the year.
“Our English-speaking practice turnover in Turkiye has increased 18 times since our first investment. However, the market is very large and suitable for further growth. We will continue to announce the work we do. We will start to show up in Europe by the end of the year.”
Addressing our question about scaling with the third investment they received, Emre Bas, the CTO of the startup, said:
“By the end of the year, we will also enter the Turkish-speaking practice market. We aim to spend Turkish Lira by earning Dollars with this product, which will be the first scaling project in our product. We expect requests from our cognates in the Middle East region, Turkic Republics and especially in Germany, who live in the fourth generation, by bringing together native speakers of Turkish and participants who want to learn Turkish or want to improve their Turkish knowledge.”
BukyTalk was also named the “Education Initiative of the Year” in the public vote held by the Startup Centrum in the past months.
Source: Egirisim / Prepared by Irem Yildiz