Startups ranked by AI-estimated valuation
Türkiye’s 20 most valuable startups
A quarterly ranking of non-listed Turkish startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; AI models estimate it.
Listed benchmarks
Hepsiburada · E-commerce › marketplace · Nasdaq · HEPSMarti · Mobility › ride-hailing and scooters · NYSE American · MRTLogo Yazılım · Software › ERP · Borsa Istanbul · LOGO
Not ranked: no intention is possible on a listed company.
The market at a glance
20companies ranked
22companies on the radar
about USD 490M excluding acquisitions (USD 1.4bn including them)raised in 2025
299 deals excluding acquisitionsrounds in 2025
KPMG counts USD 1.4bn across 360 Turkish startup deals in 2025, but only about USD 490M outside acquisitions (Uber's USD 700M Trendyol Go deal dominates); a separate Year in Review counts USD 589M of VC across 306 deals, down 45%. Gaming and fintech took about two-thirds of VC (Good Job Games, Midas, Sipay, Cypher, Bigger Games). In H1 2026 startups.watch counts USD 172M across 87 rounds, 65% of it in gaming (Grand Games USD 70M, TaleMonster USD 30M), while Uber's purchase of Getir's delivery units dominated M&A. Sources: KPMG Türkiye, Turkish Startup Investments Review 2025, Turcorn, Year in Review 2025. Intention counters will be shown above a threshold of amount and number of Backers.
National ranking · all sectors
Snapshot22 Oct 2026A snapshot taken on 22 Oct 2026
This ranking shows the startups as they stood on 22 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 26 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
This ranking shows the startups as they stood on 22 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 26 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
| # | Company | Sub-sector | Known funding | Estimated valuation (AI) · range | Pool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool. Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets, to validated members only. Terms for Backers → | BackBacking a startup on Uback (pronounced “you back”) can be done in two ways: Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once. Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a partner desk. Neither is an order nor a commitment to invest. Terms for Backers → |
|---|---|---|---|---|---|---|
| 1 | TrendyolIstanbul · founded 2010 Controlled by Alibaba Group. |
E-commerce › general marketplace | USD 2.5bn+ raised Growth round · USD 1.5bn · Aug 2021 (General Atlantic, SoftBank Vision Fund 2, ADQ) |
Last known equity round: Growth round · USD 1.5bn · Aug 2021 (General Atlantic, SoftBank Vision Fund 2, ADQ)Method | Be the first | Back |
| 2 | Dream GamesIstanbul · founded 2019 CVC Capital Partners became its main shareholder in 2025; early investors sold their shares. |
Gaming › mobile puzzle games | USD 468M (VC rounds before CVC) raised Series C · USD 255M · Jan 2022; investment by CVC Capital Partners valuing the company at USD 5bn in May 2025 |
Last known equity round: Series C · USD 255M · Jan 2022 Published valuation: USD 5bn (May 2025)Method |
Be the first | Back |
| 3 | SipayIstanbul · founded 2019 Bought the e-commerce software firm Ideasoft in 2025. |
Fintech › payments and embedded finance | USD 93M+ raised Series B · USD 78M · Apr 2025 (Elephant; QuantumLight), at USD 875M |
Last known equity round: Series B · USD 78M · Apr 2025 (Elephant; QuantumLight) Published valuation: USD 875M (Apr 2025)Method |
Be the first | Back |
| 4 | Grand GamesIstanbul · founded 2024 2025 revenue of about USD 130M; Magic Sort passed 75 million downloads. |
Gaming › hybrid-casual mobile games | USD 103M raised Series B · USD 70M · May 2026 (Balderton Capital; Bek Ventures, Laton Ventures), at USD 720M |
Last known equity round: Series B · USD 70M · May 2026 (Balderton Capital; Bek Ventures, Laton Ventures) Published valuation: USD 720M (May 2026)Method |
Be the first | Back |
| 5 | MidasIstanbul · founded 2020 Reports 3.5 million investors in Türkiye (Aug 2025). |
Fintech › retail investing app | USD 140M+ raised Series B · USD 80M · Aug 2025 (QED Investors; IFC, HSG, QuantumLight, Spice Expeditions) |
Last known equity round: Series B · USD 80M · Aug 2025 (QED Investors; IFC, HSG, QuantumLight, Spice Expeditions)Method | Be the first | Back |
| 6 | ColendiIstanbul · founded 2016 Reports 17 million users in Türkiye (2024). |
Fintech › credit and digital banking | USD 95M+ raised Series B · USD 65M · May 2024 (Citi Ventures; Migros, Sepil Ventures, Re-Pie, Finberg) |
Last known equity round: Series B · USD 65M · May 2024 (Citi Ventures; Migros, Sepil Ventures, Re-Pie, Finberg) Published valuation: USD 700M (May 2024)Method |
Be the first | Back |
| 7 | Good Job GamesIstanbul · founded 2017 Sold Zen Match and its team to Moon Active earlier; Match Villains estimated near USD 100M in store spending. |
Gaming › mobile puzzle games | USD 83M raised Series A · USD 60M · Jul 2025 (Menlo Ventures, Anthos Capital; Bessemer Venture Partners) |
Last known equity round: Series A · USD 60M · Jul 2025 (Menlo Ventures, Anthos Capital; Bessemer Venture Partners)Method | Be the first | Back |
| 8 | Spyke GamesIstanbul · founded 2021 Tile Busters estimated at USD 85M+ in player spending. |
Gaming › social casual mobile games | USD 100M+ raised Minority investment · USD 50M · May 2024 (Moon Active), for about 16% |
Last known equity round: Growth (minority) · USD 50M · May 2024 (Moon Active)Method | Be the first | Back |
| 9 | EasyCepIstanbul Also operates in Qatar, the UAE and Saudi Arabia. |
E-commerce › refurbished electronics | raised Growth round · USD 45M · Nov 2025 (Oleka Capital, RePie Portföy, Ziraat Portföy) |
Last known equity round: Growth · USD 45M · Nov 2025 (Oleka Capital, RePie Portföy, Ziraat Portföy)Method | Be the first | Back |
| 10 | ParamIstanbul Payments for 90,000+ merchants and 5.4 million cards (2022). |
Fintech › payments and e-money | raised Funding round · USD 40M · Jun 2022 (EBRD, CEECAT Capital, Alpha Associates, Revo Capital) |
Last known equity round: First institutional round · USD 40M · Jun 2022 (EBRD, CEECAT Capital, Alpha Associates, Revo Capital) Published valuation: USD 200M (Jun 2022)Method |
Be the first | Back |
| 11 | Cypher GamesIstanbul | Gaming › mobile puzzle games | USD 40M raised Series A · USD 30M · Oct 2025 (The Raine Group, Play Ventures; MIT, e2vc, VC Big Bets) |
Last known equity round: Series A · USD 30M · Oct 2025 (The Raine Group, Play Ventures; MIT, e2vc, VC Big Bets)Method | Be the first | Back |
| 12 | TaleMonster GamesIstanbul · founded 2024 Team grew from 17 to 32 people after the Series A. |
Gaming › mobile puzzle games | USD 37M raised Series A · USD 30M · Jan 2026 (Arcadia Gaming Partners, Andreessen Horowitz; Point72 Ventures, General Catalyst) |
Last known equity round: Series A · USD 30M · Jan 2026 (Arcadia Gaming Partners, Andreessen Horowitz; Point72 Ventures, General Catalyst)Method | Be the first | Back |
| 13 | Bigger GamesIstanbul · founded 2019 Founded by former Peak Games staff. |
Gaming › mobile puzzle games | USD 31M raised Series A · USD 25M · Jun 2025 (Goodwater Capital; Arcadia Gaming Partners, Index Ventures, Play Ventures) |
Last known equity round: Series A · USD 25M · Jun 2025 (Goodwater Capital; Arcadia Gaming Partners, Index Ventures, Play Ventures)Method | Be the first | Back |
| 14 | GetmobilIstanbul Powers trade-in and refurbished programmes for Apple, Samsung, Hepsiburada and Vatan in Türkiye. |
E-commerce › refurbished electronics | raised Series A · USD 22M · Dec 2025 (IFC, Lowercarbon Capital; 2150, Endeavor Catalyst, Dutch Founders Fund, TechOne/Metis) |
Last known equity round: Series A · USD 22M · Dec 2025 (IFC, Lowercarbon Capital; 2150, Endeavor Catalyst, Dutch Founders Fund, TechOne/Metis)Method | Be the first | Back |
| 15 | ikasIstanbul Annual recurring revenue of USD 10M within 16 months; office in Germany since 2022. |
B2B software › e-commerce platform | raised Series A · USD 20M · Apr 2024 (IFC, Re-Pie Portföy) |
Last known equity round: Series A · USD 20M · Apr 2024 (IFC, Re-Pie Portföy)Method | Be the first | Back |
| 16 | AkinonIstanbul Customers include Lacoste, Marks & Spencer, Sephora and Gap. |
B2B software › commerce cloud | USD 25M+ raised Series B · USD 20M · Oct 2021 (Actera Group, Revo Capital; SmartFin Capital, Endeavor Catalyst) |
Last known equity round: Series B · USD 20M · Oct 2021 (Actera Group, Revo Capital; SmartFin Capital, Endeavor Catalyst)Method | Be the first | Back |
| 17 | Agave GamesIstanbul · founded 2021 Find the Cat passed 50M downloads. |
Gaming › casual mobile games | USD 25.5M raised Series A · USD 18M · Dec 2024 (Felix Capital, Balderton Capital; e2vc) |
Last known equity round: Series A · USD 18M · Dec 2024 (Felix Capital, Balderton Capital; e2vc) Published valuation: USD 100M (Dec 2024)Method |
Be the first | Back |
| 18 | ArmutIstanbul · founded 2011 Operates four brands across 14 countries after the ProntoPro merger. |
Marketplace › local services | raised Growth round · USD 15M (EUR 15M) · Sep 2022, at its merger with ProntoPro |
Last known equity round: Merger + growth · USD 15M · Sep 2022Method | Be the first | Back |
| 19 | FigoparaIstanbul | Fintech › supply chain finance | raised Series A · USD 11M · Oct 2022 (L2G Ventures) |
Last known equity round: Series A · USD 11M · Oct 2022 (L2G Ventures)Method | Be the first | Back |
| 20 | Mega FortunaBursa · founded 2023 | Gaming › game discovery & loyalty | USD 12M+ raised Minority investment · USD 10M · Jan 2025 (Aonic), which holds an option to buy the whole company |
Last known equity round: Minority investment · USD 10M · Jan 2025 (Aonic)Method | Be the first | Back |
Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms
Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main operations in Türkiye. Request a correction
Get every new ranking
New entries, exits and movements, at every edition.
No data passed on to third parties. See our Privacy policy.
How to read this ranking
Rank
Companies are ranked by AI-estimated valuation, highest first. The market sets the value; AI models estimate it.
Estimate
An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.
- Hundreds of k$
- Millions $
- Tens of M$
- Hundreds of M$
- Unicorn
- Decacorn
- Hectocorn
Rankings by sector
Four verticals at launch, more when the feasibility test allows.Coming soon · Top 10
Gaming
Mobile puzzle, casual and hybrid-casual game studios.
Coming soon · Top 10
Fintech
Payments, retail investing, credit, banking software and supply-chain finance.
Coming soon · Top 10
E-commerce & marketplaces
Online marketplaces, refurbished electronics and e-commerce software.
Coming soon · Top 10
Software & cybersecurity
Threat intelligence, commerce platforms and AI tools.
HealthtechMobilityDeeptechHR techEdtech
The Uback Fundraising Desk in Türkiye
Introductions made by a Fundraising Desk partner, currently being selected
An adviser licensed by the CMB (Capital Markets Board of Türkiye, SPK), the only party entitled to present Backers’ demand to companies for their funding rounds. Sales of existing shares are handled by Secondary Sales Desks, assigned company by company. Uback remains a media: it ranks and aggregates intentions, it takes part in no transaction.
—deals worked on
—deals closed
—average response time
Capital raising advisers
Become Uback’s Fundraising Desk partner in Türkiye
- Foreign investors you would not find on your own
- Your name on every ranking of the country
- Backers’ demand on each company, before its round opens
- The “Uback Fundraising Partner in Türkiye” title on your profiles
Radar · known eligible companies, not ranked
Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.
- Paket Mutfak · Food delivery › cloud kitchensFunding round · USD 3.8M · Feb 2026 (Nokta Yatırım Holding, Ünlü & Co, Fırat İşbecer; Ali Sabancı, Sip & Bite GSYF, Robert Baler, Corsini Global)Back
- Fimple · Fintech › core banking softwareSeries A extension · USD 10M · Jan 2026 (Ak Portföy; DN Capital, Smartfin, APY Ventures)Back
- Onlayer · Fintech › compliance and risk softwareSeries A · USD 8.2M · Nov 2025 (Oleka Capital; Deniz Ventures, Revo Capital, INVEST101, Vestel Ventures)Back
- TeklifimGelsin · Fintech › loan comparison marketplaceSeed · USD 4M · Nov 2025 (Hedef Portföy GSYF)Back
- Fonmap · Fintech › fund investing platformSeed · USD 3M · Sep 2025 (Turkcell, Tera, Re-Pie)Back
- Circle Games · Gaming › mobile puzzle gamesSeed · USD 7.2M · Jul 2025 (Bitkraft Ventures; a16z Speedrun, Play Ventures, e2vc, APY Ventures)Back
- Milvus Robotics · Deeptech › autonomous mobile robotsSeries A · USD 5.5M · Jul 2025 (TT Ventures GSYF; APY Ventures, Bölgesel Kalkınma Fonu, Maxis Ventures, Inveo Ventures)Back
- Virgosol · AI › software test automationFunding round · USD 3.5M · Jul 2025 (Revo Capital)Back
- OctoXLabs · Cybersecurity › attack surface managementSeed · USD 3.3M · Jun 2025 (Yapı Kredi FRWRD GSYF; Gelecek Etki GSYF, Teknoloji ve İnovasyon Fonu, TT Ventures, Finberg)Back
- Saykal Electronics · Deeptech › power electronicsFunding round · USD 3M · Jun 2025 (İş Portföy, APY Ventures, Anadolu Isuzu, Re-Pie)Back
- Albert Health · Healthtech › chronic disease managementSeed · USD 1.5M · Feb 2025 (Sabancı Ventures; Ak Portföy AgeSA GSYF, Maxis GSYF)Back
- TeamSec · Fintech › securitisation softwareFunding round · USD 7.6M · Jan 2025 (Deniz Ventures, Rasmal Ventures)Back
- Hiwell · Healthtech › online mental healthPre-Series A · USD 3.5M · Jul 2024 (Boğaziçi Ventures; Ünlü Portföy Ar-Ge GSYF)Back
- Brandefense · Cybersecurity › threat intelligencePre-Series A · USD 2.8M · Dec 2023 (Sabancı Ventures, Vestel Ventures, TTGV)Back
- Cerebrum Tech · AI › conversational AISeed · USD 1.8M · Oct 2023 (Boğaziçi Ventures; Inveo Ventures fund, Faruk Eczacıbaşı)Back
- Ace Games · Gaming › mobile puzzle gamesFunding round · USD 8M · 2023Back
- Kolay İK · HR tech › HR softwareSeries A · USD 1.9M · Jun 2022 (Eksim Ventures; Maxis fund)Back
- Ödeal · Fintech › merchant payments (POS)Strategic round · USD 3.5M · Mar 2022 (SaltPay, now Teya)Back
- Fomo Games · Gaming › casual mobile gamesFunding round · USD 5M · Jan 2022Back
- Scotty · Mobility › on-demand deliverySeed · USD 3.5M · May 2021 (Erdem Gülen; Class 5 Global)Back
- Yolcu360 · Travel › car-rental marketplaceSeries A · USD 6M · Apr 2021 (Eksim Ventures)Back
- BiTaksi · Mobility › taxi-hailingSeed · USD 2M · Jun 2013 (Aslanoba Capital); Getir took a stake in 2021, amount undisclosedBack
Born in Türkiye, based elsewhere
Companies of Turkish origin whose main operations are now abroad: not ranked, shown with the law governing their shares.
- Insider · Software › AI marketing and customer engagement
Founded in Istanbul in 2012; based in Singapore (ranked in Singapore as based there, born elsewhere)Series E · USD 500M · Nov 2024 (General Atlantic)Back - Picus Security · Cybersecurity › breach and attack simulation
Founded in Ankara in 2013; HQ in San Francisco, R&D in AnkaraSeries C · USD 45M · 2024 (Riverwood Capital)Back - Vivoo · Healthtech › at-home wellness tests
Founded in Istanbul; HQ in San FranciscoFunding round · USD 10M · Jul 2024Back - Lucida AI · Edtech › AI language-speaking app
Founded in 2024 by Turkish entrepreneurs; based in the United KingdomSeed · USD 7M · Jun 2026 (Velocity Capital; Boğaziçi Ventures, Yapı Kredi Frwrd)Back - SOCRadar · Cybersecurity › threat intelligence
Founded in Istanbul; HQ in the United States, R&D in Istanbul (ranked as a US company in Threat intelligence)Series B · USD 25.2M · May 2024 (PeakSpan Capital; Oxx, 212)Back
Not ranked
- Getir · Being broken up by its controlling shareholder; Turkish delivery businesses sold to Uber in 2026
- Trendyol Go · Majority bought by Uber in May 2025
- oBilet · Majority bought by BlaBlaCar in Oct 2024
- Yemeksepeti · Bought by Delivery Hero in 2015
- Peak Games · Bought by Zynga in 2020
- Rollic · Majority bought by Zynga in 2020
- Gram Games · Bought by Zynga in 2018
- Ruby Games · Bought by Rovio in 2021
- Masomo · Bought by Miniclip in 2019
- Loom Games · Majority bought by Scopely in 2026
- Loop Games · No outside equity found
- Codeway · No disclosed outside equity of USD 1M or more
- Modanisa · Bought by Re-Pie Portföy in Apr 2024
- Vivense · Bought by Re-Pie Portföy in 2026
- Carvak · Bought by Borusan Next in Oct 2025
- Playable Factory · Bought by Tamatem in 2026
- BinBin · Listed on Borsa Istanbul since 2024
- Marti · Listed on NYSE American
- Hepsiburada · Listed on Nasdaq; majority owned by Kaspi.kz since 2025
- Papara · Seized by the authorities in 2025 and sold to a state-owned bank in 2026
- ininal · No equity round in the last 10 years
- Paynet · Bought by iyzico in 2024
- iyzico · Owned by PayU (Prosus) since 2019
- Bulutistan · Majority bought by DxBV in 2024
- Segmentify · Bought by Unifonic in Jun 2026
- Apsiyon · Bought by Aareon in Nov 2025
- Smartpulse · Bought by Volue in Oct 2025
- BizimHesap · Bought by Mikro Yazılım in Oct 2025
- Perculus · Bought by Constructor Tech in Mar 2025
- VNGRS · Bought by a BtcTurk fund in Apr 2025
- Ticimax · Majority bought by team.blue in Jun 2025
- Kuzu · Bought by Apple in 2026
The method in Türkiye
Calendar. Quarterly ranking, published on the 26th of January, April, July and October. Next edition: January 26, 2027.
Eligibility: at least $1M raised in equity, non-listed company, main operations in Türkiye.
Fundraising Desk sought. An adviser licensed by the CMB (Capital Markets Board of Türkiye, SPK).
Sources. Turkish and international business and technology press (Webrazzi, Para Dergi, Forbes Türkiye, Daily Sabah, Hürriyet Daily News, PocketGamer.biz, TechCrunch, Bloomberg, Reuters), startups.watch and KPMG Türkiye data, company and investor announcements.