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About - Figopara Supply Chain Finance Platform

About Us

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Figopara was founded in 2016 by the team of Foriba, one of the the leading digital transformation companies in Türkiye that enables companies to process e-invoice and e-transformation products. Figopara is a financial technology company that helps Small to Medium Enterprises optimize their cash flow issues caused by the maturity mismatch between their collections and payments.

As the technological financial advisor for SMEs, it makes it easy and quick to digitalize the financial process between buyers, suppliers, and financial institutions on a digital platform, within the laws and rules that apply.

10M+ TL

Transaction Volume

150.000+

Processed Invoice

10.000

Supplier Member

20+

Number of Bank

Co-Founders

Ahmet Bilgen

Ahmet Bilgen

Chairman of the Board

Ahmet Bilgen was born in 1970 in the Erdemli district of Mersin. He graduated from Eastern Mediterranean University, Department of Applied Mathematics and Computer Science. In 1997, he entered the field of SAP and ERP software as a Technology Consultant in the field of SAP. During this period, he took part in more than 50 large ERP projects. In 1999, he founded FIT Solutions, a successful venture in the SAP and ERP industry, with four of his friends.

Bilgen, who still works as the Chairman of the Board of FigoPara and Trendbox, has established companies in different countries both as an investor and an employer. Having obtained an angel investor license in 2015, Bilgen has invested in more than 10 startups to date. He is still the Chairman of the TRNC Presidential Entrepreneurship Committee and the Head of the TRNC Entrepreneurship Initiative. He is married and has 2 children.

Koray Gültekin Bahar

Koray Gültekin Bahar

Chief Executive Officer

Koray Gültekin Bahar, who began his career as a software developer at FIT Solutions after graduating from the Department of Computer Engineering at Eastern Mediterranean University, founded his first company, Dotto, during this time. He worked on Microsoft platforms and mobile applications, he became a partner of FIT Solutions in 2013. In 2019, he successfully led the acquisition of Foriba by Sovos, the world's largest tax technology company. He is now the General Manager and Partner of rectech-focused Foriba, where he will continue his career.

As EMEA Strategy Vice President, Bahar oversight Sovos' Middle East and Asia strategy following the sale of Foriba, which is regarded as one of the most significant exits in recent history. He left Sovos in 2020 to focus on Figopara, a firm that assists businesses in managing their cash flow and working capital. He is the company's current general manager and creates content in the fields of entrepreneurship and technology for www.yollarda.tv.

Arman Eker

Arman Eker

Chief Technology Officer

Following his graduation from the Department of Computer Engineering at Eastern Mediterranean University, Arman Eker began his career at FIT Solutions as a SAP Process Integration Technology Consultant. In the same year, he earned the SAP Process Integration certification and created over a hundred integration projects. In 2012, Eker worked as a Product Manager for Dotto Information Technologies. Eker started his business career in 2013 as a founding partner of TIMETE. In 2014, he became the general manager of Trendbox Cloud Computing, which was the next step in his career.

As a founding partner and CTO of the FinTech company Figopara, which helps facilitate supply financing, he has been working on the development of new technologies since 2016. He also produces content in the fields of entrepreneurship and technology via www.yollarda.tv.

Bulut Arukel

Bulut Arukel

Co-Founder

Bulut Arukel got his bachelor's degree from Istanbul University. For more than 14 years, he has worked as a manager in business development, sales, and marketing for both national and international companies in fields like IT, hardware, and software.

Arukel is currently a board member and chief revenue officer at Figopara. He has a wide range of experience, particularly in company mergers and acquisitions processes. Arukel speaks at domestic and international events on topics including sales management, business development, investor relations, international sales, sustainable finance, and next-generation financial technologies. In addition, as a member of the Women in Technology Association's Board of Directors, he participates actively in the TOBB Financial Technologies Assembly and the International Investors Association (YASED). Arukel is married and a father of one.

Investors

IFC

The International Finance Corporation (IFC)

The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. It was established in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development. The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private-sector entities, and creating jobs and delivering necessary services to those who are poverty stricken or otherwise vulnerable.

Endeavor Catalyst

Endeavor Catalyst

Endeavor Catalyst, founded in New York in 1997, supports active entrepreneurs from around the world and across cultures. Endeavor, whose Turkey office opened in 2006, supports innovative entrepreneurs who create structured and systematic approach and leads incentive and cooperation efforts to develop local ecosystems.

Eczacıbaşı Ventures

Eczacıbaşı Investment Holding Co.

Eczacıbaşı Investment Holding Co. was founded in 1973 as the first publicly traded investment company in Turkey. Initially, investors were given the opportunity to receive a portion of Eczacıbaşı Investment Holding Co.'s profits. Today, the company's balance sheet is extremely liquid, consisting primarily of government debt instruments, repurchase agreements, and bank deposits.

Finberg

Finberg

Finberg is an investment and financial technology company founded in 2018. Finberg aims to provide value-added services that meet the needs of individual and SME customers in Turkey in order to promote the growth of the companies in its portfolio. Due to the ventures in which he is an investor and business partner, Finberg is now a part of an ecosystem that impacts thousands of SMEs and individual customers.

Lima Ventures

Lima Ventures

Lima Ventures was founded in 2020 to invest in Turkish technology startups. It aims to collaborate with remarkable entrepreneurs with extraordinary insights at all stages of their growth. Lima Ventures supports visionary founders and provides specific services to early-stage startups.

ScaleX Ventures

ScaleX Ventures

ScaleX Ventures is an early-stage venture capital firm, specialised in late seed and A round investments in Emerging Europe’s most promising tech startups. Startups involve a lot of challenges – raising capital, hiring the right talent, cultivating networks, and developing business. ScaleX is an value-adding VC in the truest sense, guiding startups and their founders through this maze and helping them tap into and realize their potential.

Logo Yazılım

Logo Yazılım

Established in 1984, Logo is an enterprise application software and services provider helping companies manage their business processes, increase their efficiency and profitability, and meet regulatory requirements. Logo’s products and services serve the needs of companies of all sizes ranging from micro-SMEs to large enterprises. Logo is Turkey’s largest public software company and has expanded its business outside of Turkey, through organic growth in countries in Central Asia, the Middle East and North Africa, and inorganic growth with acquisition of Total Soft, in Romania.

Maxis

Maxis

Maxis was founded in November 2017 in response to new legislation that affords new opportunities for venture capital activities in accordance with international standards. Maxis establishes and manages venture capital investment funds that connect qualified investors with a long-term perspective who are interested in venture capital investments with the capital requirements of growth-oriented venture companies.

JIMCO

JIMCO

The Abdul Latif Jameel Investment Management Company, or “JIMCO” is the global investment arm of the Jameel Family. Leveraging our proven commercial heritage of over three quarters of a century across diverse business sectors and geographies, we offer more than merely capital in our investment approach. Through two dedicated flagship funds, JIMCO Life Sciences Fund and the JIMCO Technology Fund, investments span medical and healthcare industries, from pharmaceuticals and vaccines to cutting-edge medical technology, along with emergent technologies across fintech, insurtech, electric vehicles and future mobility solutions.

TechOne

TechOne

TechOne is an Istanbul-based smart capital fund. TechOne's strength comes from the diversity of the stakeholders and the multi-disciplinary nature of its 30+ full-time professionals and more than 100+ strategic partners. The stakeholders are leaders in technology, industry, finance, and academia. They are keen to partner with outstanding entrepreneurs with a vision to shift or disrupt market dynamics through the power of innovation. With the help of its global network and its operating partner, Tarvenn Ventures, the company focuses on being the best partner for founders!

L2G Ventures

L2G Ventures

L2G Ventures is a venture capital investment fund established under Istanbul Portföy Yönetimi A.Ş. The Fund’s strategy is to invest into the Turkish Start-up Ecosystem, ranging from post-seed stage up to post-Series A rounds with the vision of supporting the growth and expansion phases of the start-ups. L2G Ventures focuses on companies run by talented and dynamic teams that are led by experienced founders, possessing strong growth and scalability potentials on a global level in sectors such as, Fintech, SaaS, Marketing Tech, Agritech, blockchain and IoT. L2G Ventures management team has led over 60 local and international transactions such as cross-border M&As, international IPOs, private placements, bond issues and large-scale project finance transactions and represents various international companies at board level. L2G Ventures actively participates in the management of the start-ups it invests in at the board level, providing global network, financial and strategic support that start-ups need in their globalization path.

Oyak Yatırım

Oyak Yatırım

Within the parameters of the Capital Market Law and the relevant legal provisions, OYAK offers its clients financial services such as the management of private and corporate portfolios of financial assets, the management of domestic and international investment funds, pension funds, investment trusts, and investment consulting.

Sabancı Ventures

Sabancı Ventures

Sabancı Ventures is the Venture Capital arm of Sabancı Holding, leading industrial conglomerate in Turkey active in financial services, industrials, energy, building materials, retail and digital services.

We are both financial and strategic investors, leveraging the know-how, operational excellence and global network of Sabancı Holding companies while creating value with commercial partnerships.

Türkiye Kalkınma Bankası

Türkiye Kalkınma Bankası

Türkiye Kalkınma Fonu (TKF), established by Türkiye Kalkınma ve Yatırım Bankası A.Ş. in 2019, includes six sub-funds that aim to invest in initiatives and funds that will contribute to Turkey's development and sustainable growth through capital contribution. TKF, which is a flexible, independent investment platform that offers best practices and tax advantages, has the opportunity to establish domestic and international sub-funds with different strategies and to invest with different investment instruments TKF has 3 main investment focuses;

  • Private equity investments in growth financing for SMEs developing products for export or import substitution
  • Venture Capital investors for technology-oriented startups with high growth potential (Venture Capital)
  • Funds' investments in Venture Capital Funds that invest capital in technology startups in Turkey