The European Bank for Reconstruction and Development (EBRD) and Truffle Capital have announced completion of their investment in the Turkish financial technology firm Dgpays, marking the second investment by EBRD and the first by Truffle Capital in a Turkish fintech company. A press conference was held at the Turkish Embassy residence in London to announce the investment by EBRD and Truffle Capital in Dgpays. This investment represents one of the most significant international investments in the FinTech sector in Türkiye.
The ceremony was attended by key figures including Investment Office President A. Burak Dağlıoğlu, Dgpays Founder and CEO Serkan Ömerbeyoğlu, EBRD Türkiye Director Arvid Tuerkner, and Truffle Capital CEO Bernard-Louis Roques. In his remarks, Investment Office President A. Burak Dağlıoğlu underscored the importance of early-stage technology investments in Türkiye, “In 2023, a total of 325 deals were made in early-stage startups in Türkiye, with FinTech accounting for the lion's share, totaling 33 investment rounds. The most significant strength of Türkiye's technology ecosystem lies in its talented entrepreneurs and skilled workforce." Dağlıoğlu emphasized the Investment Office's mission to attract foreign direct investment to Türkiye under President Erdoğan's leadership, contributing to the country's economic growth and fostering a favorable investment climate.
Dgpays CEO Serkan Ömerbeyoğlu expressed strong confidence in Türkiye's growth potential and reiterated the company's commitment to global FinTech leadership, since it was founded in 2017. Highlighting Dgpays' remarkable growth journey and dedication to expansion, Ömerbeyoğlu welcomed the substantial investment secured from leading European FinTech funds and emphasized the significance of the EBRD's reinvestment, which has doubled the company's valuation to over USD 600 million within two years.
EBRD Türkiye Director Tuerkner expressed satisfaction with the second investment decision in Dgpays, highlighting its significance. He expressed eagerness to continue partnering with Dgpays, underlining Turkey's importance for EBRD due to its substantial investment and market potential. This investment not only signifies a vote of confidence in Dgpays but also reflects the EBRD's continued commitment to Türkiye's economic development. As one of the key investors in Türkiye, with nearly EUR 19.5 billion invested in various projects since 2009, the EBRD plays a crucial role in driving private sector growth and promoting innovation in the country.