EBRD invests in the rapidly growing Turkish tech company, obilet.com
12.12.2019 14:02:00 EET | Business Wire | Press release
European Bank for Reconstruction and Development (EBRD) invested in obilet.com, the online sales platform for users to purchase bus and airline tickets. EBRD, which offers financing for thousands of projects to support local growth in European countries, has invested $11 billion in Turkish businesses and projects to date. Earlybird Venture Capital, an investor in obilet.com, announced that it will also participate in the next round of funding.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191212005302/en/
EBRD added obilet.com, Turkey's fastest-growing online ticket sales platform, to its investment portfolio. Yigit Gurocak, (obilet.com CEO and Co-founder) and Ali Yılmaz, (obilet.com Co-founder) (Photo: Business Wire)
Yigit Gurocak, CEO - obilet.com, said that the company aimed to provide services to different segments of the transportation industry by expanding its teams in 2020 with the support of new investments.
The company, currently at 400 million visitors, aims to sell 18 million tickets in 2020!
obilet.com, which offers comparison and purchasing options for bus and airline tickets of more than 150 bus operators and 1000 airlines, was founded in 2012 by two university students and entrepreneurs, Ali Yilmaz and Yigit Gurocak. The company’s CEO Yigit Gurocak summarized the last seven years, “Starting from its inception to the present day, obilet.com recorded outstanding growth to reach 400 million visitors, now ranks the top-visited travel site in Turkey.”
The initiative of two entrepreneurs’ dreams, obilet.com currently operates with 160 employees and is expected to maintain its growth in the Turkish travel industry, which reportedly has a size of approximately $15 billion. Yigit Gurocak said that the company aims to sell 18 million tickets in 2020 on obilet.com and the mobile app in Turkey, where 300 million tickets are sold in total.
The Turkish startup to receive highest international funding
According to Startups Watch data, obilet.com stood out as the Turkish startup to receive the highest amount of international funding in 2018 Q2 and when the investment was acquired in November 2019, it was the largest amount of investment of 2019 up until that point. With the participation of EBRD in the latest round, obilet.com has received its fourth investment round in the last five years leading the Turkish technology and travel sectors in this aspect. With this investment, obilet.com raised $10 million within one year.
Named “Europe's Best Travel App” by Mastercard in 2015, obilet.com ranked eighth among the fastest-growing companies listed in the 2017 Deloitte Technology Fast 50 program with a growth rate of 1041%. Most recently, obilet.com was also listed among Turkey’s 100 Fastest Growing Businesses according to the results of a 2019 survey conducted by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Economic Policy Research Foundation of Turkey (TEPAV).
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191212005302/en/
Contact information
Contact Details:
Sena Ozkurt
sena@obilet.com
+905348960414
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CAIRDAC Announces the Appointment of Raymond W. Cohen as Chairman of its Board of Directors24.9.2026 10:49:00 EEST | Press release
CAIRDAC, SA, a pre-revenue stage medtech company developing a leadless, self-powered cardiac pacemaker (Autonomous Leadless Pacing System), today announced the appointment of Raymond W. Cohen as chairman of its board of directors. “We are thrilled to welcome Mr. Cohen to the CAIRDAC board of directors,” said Edouard Fonck, Chief Executive Officer of CAIRDAC, “Ray’s extensive track record in leading, scaling and exiting medical technology companies will, no doubt, be invaluable as we advance this exciting project.” Mr. Cohen, an accredited public company director and accomplished medical technology executive, has over four decades of medtech industry experience. He was the co-founder and CEO of Axonics, Inc. (Nasdaq: AXNX) a global leader in implantable neuromodulation devices that completed its initial public offering in 2018. Under his leadership, Axonics was recognized as the fastest-growing technology company in North America generating over $1.2 billion in revenue in the four years
Glass Lewis and Clarity AI Join Forces to Integrate Sustainability, Governance and Stewardship24.9.2026 10:30:00 EEST | Press release
Glass Lewis and Clarity AI today announced their combination, merging Clarity AI’s advanced technology, deep sustainability data, AI analytics, and strong European market presence with Glass Lewis’ global expertise across corporate governance, proxy voting and investment stewardship. The strategic combination significantly expands the firms’ ability to serve European institutional investors and companies through enhanced local market expertise, broader sustainability capabilities and faster product development that addresses Europe’s evolving regulatory and stewardship requirements. The integrated platform fills a solutions gap as institutional investors increasingly seek to bring together investment analysis, sustainability, governance, engagement and voting rather than manage them through separate systems, datasets and workflows. At the same time, companies are continuously seeking a better understanding of how their institutional shareholders view their governance and sustainability
Wolters Kluwer integrates Libra AI workflows into monKEY for Belgian tax professionals24.9.2026 10:00:00 EEST | Press release
Wolters Kluwer Legal & Regulatory today announced the integration of Libra AI workflows in monKEY, its research platform for tax professionals in Belgium. The add-in of Libra by Wolters Kluwer enables customers to directly access Libra’s AI capabilities from the trusted research environment in monKEY, combining generative AI with tax research based on long-trusted expert content. “By integrating Libra into monKEY, we are taking another important step towards connected, AI-powered workflows for our customers,” said Rimco Spanjer, Vice President & Managing Director, Wolters Kluwer Legal & Regulatory Benelux. “We are bringing together the power of AI and the trusted, up-to-date tax content professionals rely on every day. This helps them reach relevant insights faster while staying connected to the underlying domain expertise.” The integration also marks an important milestone in the expansion of Libra by Wolters Kluwer beyond legal workflows, bringing trusted AI capabilities to tax profe
SES Advances Satellite Manufacturing Facility in Luxembourg24.9.2026 09:50:00 EEST | Press release
SES, a space solutions company, has commenced construction of a new satellite manufacturing facility in Kockelscheuer, Luxembourg, marking a major milestone in the company’s vertical integration and business model evolution. The facility will enhance SES’ ability to design, develop and manufacture critical satellite technologies, accelerating the deployment of next-generation satellite networks and secure communications solutions. It will also help create a hub for innovation and enable SES partners and ecosystem with opportunities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260923560183/en/ SES Advances Satellite Manufacturing Facility in Luxembourg The new facility in Kockelscheuer is at the center of Luxembourg’s effort to build and scale a dedicated Space Campus to stimulate New Space companies and industrial collaboration, and serve as a center for engineering, testing, manufacturing and assembly, accelerating devel
NTT DOCOMO BUSINESS Launches “Pro”, a New docomo business SIGN ® Offering for Large-Scale Global Connected Products24.9.2026 05:00:00 EEST | Press release
NTT DOCOMO BUSINESS, Inc. (formerly NTT Communications Corporation) announced today the launch of "Pro," a new offering in the docomo business SIGN®1 lineup, an IoT-focused Network as a Service (NaaS) with built-in security features. Designed to support the large-scale and global deployment of connected products, “Pro” helps customers manage and operate tens of thousands of IoT connections. The service will be available from March 2027. This new offering addresses the challenges of achieving more advanced operational management through the centralized management of domestic and international IoT connectivity, operational automation, and system integration, while also enhancing security. It will reduce the operational burden on customers while supporting the continued delivery of value through connected products and services. 1. Background In recent years, against the backdrop of labor shortages resulting from Japan’s declining birthrate and aging population, various industries, such as
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom