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
Laserfiche Launches Advanced Enterprise Security to Deliver Multi-Region Disaster Recovery and GovRAMP-Ready Compliance for Highly Regulated Industries6.8.2026 17:00:00 EEST | Press release
Laserfiche — the leading SaaS provider of intelligent content management — today announced the launch of Enterprise Security, an advanced suite of security enhancements designed for organizations navigating complex regulatory environments. Enterprise Security addresses GovRAMP and CJIS (Criminal Justice Information Services) security requirements based on the NIST SP 800-53 framework. For organizations handling privileged citizen, legal or corporate data, these built-in controls streamline audit preparation and fortify defenses. With organizations placing a higher priority on data stewardship and corporate governance, enterprise IT leaders require a security architecture that protects data without slowing down operations. Laserfiche Enterprise Security extends Laserfiche Cloud’s highly resilient infrastructure with multi-region data replication, elevated security controls for privileged accounts, and built-in governance safeguards. “Maintaining data integrity and compliance has always
Khimji Ramdas Group Chooses Rimini Street to Reduce SAP Support Costs, Protect 700+ Customizations and Reinvest Savings in Innovation6.8.2026 16:00:00 EEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™ and the leading third-party support provider for Oracle, SAP and VMware software, today announced that Khimji Ramdas Group, one of Oman’s largest privately held conglomerates, has selected Rimini Support™ for SAP, a move that has helped the organization reduce costs, reinvest savings in AI innovation and maintain its highly customized SAP ECC 6 environment with zero downtime. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260806244148/en/ Khimji Ramdas Group Chooses Rimini Street to Reduce SAP Support Costs, Protect 700+ Customizations and Reinvest Savings in Innovation “Staying on SAP ECC is a strategic decision for us,” said Prashant Kumar, CTO, Khimji Ramdas Group. “We went to an industry analyst to ask what options we have to keep our ECC systems running without vendor support dependencies, and they suggested that we contact Rimini Stree
AM Best Upgrades Fortegra Insurance Subsidiaries to A (Excellent)6.8.2026 16:00:00 EEST | Press release
The Fortegra Group, Inc. (“Fortegra” or the “Company”), a global specialty insurer and part of DB Insurance Co., Ltd., today announced that AM Best has upgraded the Financial Strength Rating (FSR) of its insurance subsidiaries to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent). The outlook assigned to the ratings is stable, and AM Best removed the ratings from under review with positive implications. KBRA has also upgraded all of its ratings for the Company. The upgrade applies across Fortegra’s insurance platform. The property and casualty companies include Lyndon Southern Insurance Company, Insurance Company of the South, Response Indemnity Company of California, Blue Ridge Indemnity Company, Fortegra Specialty Insurance Company and Fortegra Europe Insurance Company SE. The life and health companies include Life of the South Insurance Company, Bankers Life Insurance Company of Louisiana and Southern F
Naser Taher, Chairman and Founder of MultiBank Group, Honored by H.H. Sheikh Nahyan bin Mubarak Al Nahyan with the Golden Excellence Award for FinTech, Digital Asset and Blockchain Excellence6.8.2026 15:53:00 EEST | Press release
Naser Taher, Chairman and Founder of MultiBank Group, has been honored with the Golden Excellence Award for FinTech, Digital Asset and Blockchain Excellence at the 9th Golden Excellence Awards 2026. The award was presented by H.H. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Cabinet Member and Minister of Tolerance & Coexistence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260806828617/en/ Naser Taher, Chairman and Founder of MultiBank Group, Honored by H.H. Sheikh Nahyan bin Mubarak Al Nahyan with the Golden Excellence Award for FinTech, Digital Asset and Blockchain Excellence. The recognition reflects MultiBank Group’s continued expansion into regulated digital assets through mb.io, the Group’s VARA-regulated cryptocurrency exchange. Through mb.io, clients can access crypto spot trading, including the Group’s global ecosystem utility token, $MBG, alongside seamless on- and off-ramp solutions and high-volume trading through
Mary Kay’s Pink Changing Lives ® Program Turns Purpose Into Measurable Impact for Women Around the World6.8.2026 15:05:00 EEST | Press release
Mary Kay Inc., a global advocate for women’s empowerment, proudly reaffirms its commitment to enriching women’s lives worldwide through its signature Pink Changing Lives® Program – a multi-faceted global initiative that blends purpose-driven giving with cause-marketing to create meaningful, measurable impact across communities. Since 1996, the program has provided over $230 million in monetary and product donations to nonprofit organizations empowering women, transforming women’s health and safety, and protecting our natural resources. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260806671194/en/ Mary Kay China supports the Hope for Pearl Program, providing financial assistance to girls from economically disadvantaged areas to receive a life-changing education, opening doors to new possibilities and bright futures. (Photo Courtesy: Mary Kay China) Rooted in the Company’s mission of enriching women’s lives, the Pink Changin
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