In case you have missed, Finance Office of the Presidency of Türkiye (“CBFO”) has released “Türkiye Fintech Guide 2023” for the development and promotion of financial Technologies in Türkiye, a priority area of interest for the CBFO.
The Fintech Guide explains why Turkey is a fintech destination and provides an insight into the dynamic fintech ecosystem in Turkey.
According to the guide's introduction, 2022 was the year in which the fintech ecosystem received the highest investment, with a total of $89 million. In Turkey, where the average time for a fintech to reach the investment stage is 19 months, the survival rate of fintechs that received investment in the fintech ecosystem was 94.92 per cent.
Here are the key points from the guide for your information.
Finance Office of the Presidency of Türkiye (“CBFO”) has released “Türkiye Fintech Guide 2023” for the development and promotion of financial Technologies in Türkiye, a priority area of interest for the CBFO.
In 2022, the fintech sector was the sector with the highest number of investments, with 34 deals, resulting in a total of $90 million in funding invested in fintech companies.
Between 2017 to 2022, around $474 million in M&A deals have been closed, while 2019 was an eventful year for fintech M&A, with $250.3 million.
The second part of the guide covers Turkey's fintech ecosystem, detailing fintech business models, timelines and procedures for licensing, regulatory and supervisory authorities, regulations, civil society authorities, government incentives and grants.
https://www.cbfo.gov.tr/sites/default/files/docs/2023-03/turkiye-fintek-rehberi.pdf
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