Albaraka Türk is transforming its fintech products into insha Ventures company.
1 September 2020
Albaraka Türk is establishing a new company with a capital of 10 million TL for its Fintechs. Albaraka Türk decided to gather its financial technology services under a separate subsidiary.
It is worth mentioning that both the installation process of these products and the process of growing independently fromthe corporation is Albaraka Türk CEO Melikşah Utku’s interest to the technology.
The company was decided to be established by the Innovation Venture Capital Investment Fund included in Albaraka Portfolio Management Inc. which is also the investor of Albaraka Garaj entrepreneurs. It will be established with a total capital of 10 million TL. Half of the capital is going to be covered by Albaraka Portfolio Management Inc. and the other half is by Albaraka Türk Participation Bank.