Topi, a young startup that aims to increase the competitiveness and sales power of traditional retail with the platform it established in the wholesale shopping market, received its first investment from Ahmet Bilgen, one of the important investors of the technology and fintech world. Topi, which received a pre-seed investment with a valuation of $2.5 million, will prepare for the seed investment by using this investment in line with its growth strategies.
Topi, a local startup that aims to increase the competitiveness and sales power of traditional retail with the platform it developed by pioneering digitalization in the wholesale shopping market, received its first investment from Ahmet Bilgen, one of the leading names in the world of entrepreneurship and fintech.
Topi’s initial valuation is $2.5 million
Bilgen made a pre-seed investment in Topi, which was founded in 2022 and optimizes the order and product flow between wholesalers and traditional retail points, at a valuation of $2.5 million. As of February 2024, with Topi’s performance exceeding the targeted growth, the investment was closed at a valuation of $ 2.5 million.
Topi co-founders Sedat Yıldırım and Koksal Yilmaz implemented their new startup in 2022 to use their experience in e-commerce and technology to improve the inefficient business processes between wholesalers and sellers in the retail sector.
Topi stands out as İstegelsin’s founding CEO Sedat Yildirim’s first venture after leaving the group.
The investment will be used to finance growth
Topi plans to use the funding it received from the pre-seed investment to finance growth in the process leading up to the seed investment round. Providing quick access to quality products with flexible payment options on the platform where business owners and users benefit, Topi offers the opportunity to access a wide range of products of up to 5 thousand types at the best prices and check the current wholesale market prices. Delivering all orders through its own logistics network, Topi delivers 40 different wholesaler products to retail points thanks to the distribution optimization software it developed.
Topi aims to serve in 81 provinces
Traditional retail points that shop at Topi can make their payments by credit card, money order, Fibabanka 30-day demand loan or Multinet MultiAvantaj. Topi, which currently only serves Ankara, Bolu and Bartin, aims to serve 81 provinces by expanding its product range and distribution area day by day.
The traditional retail market, which exceeds $20 billion annually and constitutes 65% of Turkiye’s entire fast-moving consumer market, provides the livelihood of hundreds of thousands of families. Business owners are gaining strength in their competition with chain markets by going digital with the advantageous prices, safe delivery and flexible payment options offered by Topi.
Source: Egirisim / Prepared by Irem Yildiz