EBRD invests in the rapidly growing Turkish tech company, obilet.com
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
Infobip Reports Record Black Friday Interactions as Retailers Accelerate Shift to Richer Customer Experiences3.12.2025 11:00:00 EET | Press release
Infobip, the leading global cloud communications platform for customer engagement, identified a remarkable upswing in its Black Friday messaging traffic, with use of Rich Communication Services (RCS) surging 277% on Black Friday 2025 compared to the previous year. Email also remained a strong channel of choice among both retailers and consumers, showing an impressive 241% year-on-year increase, signaling that promotional and transactional communications continue to drive engagement during shopping peaks. Black Friday is no longer just a single day. The search for attractive deals extends beyond Friday, with consumers from around the globe seeking products, better price offers, and reliable, easy communication channels to connect with their favourite brands. Infobip identified significant increases in interactions not only in North America, but also in other key regions. In LATAM, channels such as WhatsApp (+46%), Email (+61%) and RCS (+464%) all saw strong growth. Europe posted impress
FiRa Consortium Unveils FiRa Core 4.0 Specifications and Certification Program3.12.2025 11:00:00 EET | Press release
The FiRa® Consortium announces the release of its Core 4.0 Specifications and Certification Program, notable milestones in ultra-wideband (UWB) technology development. These updates complete the work of IEEE 802.15.4-2024 features to fulfill FiRa-defined use cases. They also enhance FiRa’s capabilities, enabling seamless interoperability and unlocking new possibilities for precise and secure ranging and positioning in diverse applications. Features of the FiRa Core 4.0 Specifications and Certification Program The FiRa Core 4.0 Specifications include updates that support expanded functionality and continued ecosystem growth. UL-TDoA – This feature enables the tracking of assets (UL-TDoA tags) by an infrastructure made of UL-TDoA anchors. The design ensures interoperability between the tags and the infrastructure, which optimizes tag simplicity and power consumption. The flexible design allows easy and customized deployments. Suspend Ranging – A method to suspend Two-Way Ranging (TWR) me
Ramify Partners with ROYC to Enrich its Private Markets Offer Under Its Own Brand3.12.2025 11:00:00 EET | Press release
ROYC, the market-leading European B2B platform for sourcing, structuring, and distributing private-market investments, and Ramify, the next-generation private wealth management platform based in France, today announced a strategic collaboration enabling Ramify to broaden its private-markets offering through a curated range of high-quality private-market funds and programs. The partnership enables Ramify to distribute, and scale modern private-markets programs under its own brand. Bringing a curated private-markets program suite to individual investors Through the collaboration, Ramify integrates a selection of highly sought-after, institutional-grade private-markets funds distributed through Luxembourg life-insurance wrappers. These funds can be invested into individually or as part of broader private-markets investment programs, including diversified and single-strategy vehicles across private equity, private credit, infrastructure and real assets - mirroring formats traditionally res
Reply Awarded a 2025 AWS Partner of the Year Award3.12.2025 11:00:00 EET | Press release
Reply [EXM, STAR: REY] is pleased to announce it is a recipient of a 2025 Geography and Global AWS Partner Award, recognizing leaders around the globe that are playing key roles in helping their customers drive innovation and build solutions on Amazon Web Services (AWS). Reply has been named the winner of the EMEA Partner of the Year – Industry Energy & Utilities award, which recognizes top AWS Partners with the AWS Energy Competency, which help customers build and implement advanced solutions powered by AWS across the industry value chain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251203089630/en/ Through its specialized companies — including Airwalk Reply, Comsysto Reply, Data Reply, Sense Reply, and Storm Reply — Reply leverages AWS capabilities to help leading organizations in the energy and utilities sector accelerate their transformation toward more sustainable and intelligent energy systems. Announced during the
Veeam and HPE Extend Strategic Partnership and Unveil Next-Gen Data Protection to Supercharge Enterprise Resilience3.12.2025 10:10:00 EET | Press release
Veeam® Software, the #1 global leader by market share in Data Resilience, today announced a bold new chapter in its strategic alliance with HPE. Building on the partnership’s momentum earlier this year, HPE and Veeam are unleashing transformative, integrated solutions designed to empower enterprises with radically simplified data resilience for the modern enterprise. “Trust, resilience, and availability are the new currency of business,” said John Jester, Chief Revenue Officer at Veeam. “Our strengthened partnership with HPE gives customers the agility and confidence to protect, recover, and leverage their data, wherever it resides.” New innovations unveiled by Veeam and HPE include: Protection for HPE Morpheus VM Essentials Software: Veeam’s new native integration plug-in – now in beta with expected general availability in early 2026 – delivers hypervisor-based image-level backup for VMs running on VM Essentials. This integration ensures secure, reliable protection for hybrid workload
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