The Venture Codex

Participated · Equity · Apr 2026

Founded in 2020, Lumnion builds machine learning and AI algorithms for insurance use cases such as risk modeling, pricing and cash-flow forecasting. Its software is already integrated into operational processes at multiple large insurers in Turkey and internationally. The company emphasizes partner-led go-to-market relationships and lists integrations with global firms such as EY and SAP Fioneer to support enterprise compatibility and scalability. Lumnion plans to use recent funding to accelerate product development and expand operations in GCC and MENA markets while deepening its commercial presence in Europe. Management frames the company's value proposition as enabling faster and more accurate, data-driven decision-making compared with traditional methods. Financially, the company has now raised a total of $2.5 million following the completed bridge round.

Led · Seed · Jun 2024

Harcy develops next‑generation building materials from waste, with an initial focus on textile‑derived insulation. Its first product, Harcy Polyester Yünü, is an eco‑friendly, cost‑advantaged thermal and acoustic insulation made from textile waste. The company is a graduate of Lonca Girişimcilik Merkezi. Harcy announced a $350,000 seed investment to support growth. The funding will be used to increase production capacity and scale sales across Turkey to meet market demand. Harcy’s 2024 goals include making Harcy Polyester Yünü a known and used product, beginning work for foreign markets, and expanding its product line with additional waste‑derived building materials.

Led · Equity · Mar 2024

Shippn operates in the cross‑border e‑commerce space, giving customers specific foreign shipping addresses so they can buy from 35 countries and receive goods at their home like a local order within 1–5 business days. The company reports having grown its revenue threefold in dollar terms after its first investment round. Shippn is led by Seyfettin Ersen Erol, Levent İlhaner, Enes Güren and CEO Duhan İçöz. Management says the new funding will support significant expansion, especially in the Americas where they already have high volumes, and in growth‑opportunity EMEA markets. The product focuses on removing borders in online shopping and end‑to‑end delivery for customers ordering from abroad.

Participated · Seed · Dec 2023

Fimple operates from London and Istanbul, delivering a cloud-native, composable core banking system built on an API-first architecture. Its platform lets banks and fintechs rapidly create and scale offerings such as digital lending and Banking-as-a-Service. The company has recently opened commercial offices in Dubai and Riyadh to support a growing customer base in the MENA region. Management plans to use newly secured capital to accelerate international expansion, particularly in GCC countries, and to advance product development and regulatory compliance. Financially, Fimple closed a $12 million Series A round in February 2025 and has now raised an additional $10 million. These successive raises underscore investor confidence in its technology and market traction, though no specific revenue or user metrics were disclosed. Ongoing investment will help strengthen its product suite while positioning the firm for further geographic growth.

Participated · Seed · Mar 2023

Turan is a next-generation finance application built as a neobank for Turkic states, focusing on cross-border money transfers. The service launched transfers with Azerbaijan and now supports Azerbaijan, Kazakhstan, TRNC, Kyrgyzstan and Uzbekistan. The company reports more than 300,000 customers, a transaction volume approaching 500 million, and over 70,000 card users. Turan has opened offices in Azerbaijan and Uzbekistan as it expands its regional footprint. The founder, Özgür Bayraktar, says the company aims to become the largest finance app in Central Asia. Turan emphasizes deepening strategic partnerships with infrastructure providers such as United Payment to support its growth. Turan has developed a digital money-transfer app enabling transfers among Turkic States including Türkiye, Azerbaijan, Uzbekistan, Kyrgyzstan, Kazakhstan and Turkmenistan. The startup aims to reach roughly 170 million people with customised products and financial services tailored to the Turkic States. In 2023 Turan plans to implement its model in Uzbekistan after earlier rolling it out in Azerbaijan. The company works closely with diplomatic agencies, including the Organisation of Turkic States, to promote regional cooperation. Turan received seed funding of $1 million to strengthen its regional presence and support planned office openings in Azerbaijan and Uzbekistan.