Providing global SMEs with free online bookkeeping program, Akaunting signed an agreement in order to receive investment from Teknogirişim Venture Capital Investment Fund established and managed by KT Portföy. Such investment is the first investment made by Teknogirişim VCIF.
As a 100% subsidiary of Kuveyt Türk, KT Portföy Yönetimi A.Ş that provides establishment and management services for investment funds has introduced Teknogirişim Venture Capital Investment Fund (Teknogirişim VCIF)in an effort to make early-stage investments in technology companies. Teknogirişim VCIF signed its first investment agreement with Akaunting which receives training and mentoring support from Lonca Entrepreneurs Center. Producing free online bookkeeping program for SMEs, Akaunting shall use the investment received from Teknogirişim VCIF for enlarging its product spectrum and entering new markets. Investment agreement has been signed at the ceremony attended by the officers from KT Portföy and Akaunting entrepreneurs.
“We support young entrepreneurs”
Underlining that Teknogirişim Venture Capital Investment Fund is a first in banking sector, Hamit Kütük, KT Portföy’s General Manager, said, “We, as KT Portföy, aim at making investments in early-stage technology-oriented and scaleable innovative projects through Teknogirişim VCIF, one of the funds established and managed by us. Today, we are pleased that we have signed the first investment agreement with Akaunting, one of such initiatives. We have been monitoring for a long time the progress and development of Akaunting to which Lonca Entrepreneurs Center had provided training and mentoring support. We believe that Akaunting would continue its global success at an increasing rate. During this process, we, as Kuveyt Türk, will continue to support our young entrepreneur colleagues. We thank Kuveyt Türk and Vakif Katilim for their investments.”
“We will use the investment for our domestic and overseas growth”
Akaunting’s Founding Partner Denis Duliçi briefed about their projects. Stating that accounting is kept with different methods in different countries, but the way the accounting books are kept is almost the same in many countries of the world, Dulici said, “Proceeding from this fact, we have anticipated that the service we would offer through an open-source solution would enjoy a fast growth and designed a free online bookkeeping program to be used by global SMEs to follow up their cash flow. As we have targeted, we have soon become a global player. In fact, more than 90 percent of our users are from abroad. Earlier, we had been admitted to Lonca Entrepreneurs Center and obtained training and mentoring support from them. Now, it is a very important development for us to receive investment from Teknogirişim Venture Capital Investment Fund. We are very pleased that we have received that investment and above all, we are the first company to receive such investment from Teknogirişim VCIF. By this way, we will continue to enhance our system while we will enlarge our domestic and global network.”
Akaunting project grew with Lonca!
Akaunting is one of graduates from Lonca Entrepreneurs Center founded in 2017 by Kuveyt Türk in an effort to channel technology oriented and scaleable business ideas into country’s economy. Graduating in the second term at Lonca where knowledge, know-how and experiences in the field of software, technology and FinTech are conveyed to entrepreneurs and training, mentoring, incubation, donation and R&D services are offered, Akaunting team had found opportunity to develop their projects at that center.