Figopara
- Company typePrivate
- Founded2016
- HeadquartersBesiktas
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Figopara firmographics
Firmographics- Name
- Figopara
- Legal name
- Figo Ticari Bilgi ve Uygulama Platformu A.Ş.
- Website
- https://figopara.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Figopara industry classification
Industry- Product category
- Supply Chain Finance & Trade Credit Platform
- NAICS
- Sales Financing (52222), Activities Related to Credit Intermediation (5223), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Short-Term Business Credit Institutions (6153), Finance Services (6199)
- akta.pro primary industry
- Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
- akta.pro secondary industries
- Fintech & Payments Partner / ISO Referral Networks (FSAEAMAK), Core ERP Suites (Financials, Procurement, Projects) (HDAEAEAA)
Keywords
Where Figopara is headquartered
LocationHeadquarters
- HQ city
- Besiktas
Offices5 records
Markets served
Figopara business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Transaction Fees on Invoice/Supplier Financing: Figopara charges transaction fees when users accept financing offers from financial institutions. Users pay a service fee when they accept a discount offer from a bank; no fee is charged if they decline the offer. Fees vary based on invoice amount and maturity date.
- FigoSkor Credit Scoring Service: AI-powered risk analysis and credit scoring tool for monitoring business partners. Basic queries available to all members, with premium features in paid plans. Companies can search Turkish businesses by tax ID or name to view risk profiles and reports.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free membership with pay-per-transaction model |
| Subscription | Monthly | FigoSkor premium plans |
| Other | Monthly | Installment Commercial Loan via Fibabanka partnership |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Figopara product offering
Product offeringCore offering
Figopara operates a digital fintech platform that connects Turkish commercial businesses with 24+ banks and 120+ buyer companies to provide supply chain finance solutions, including invoice financing, supplier financing, check financing, spot loans, rotating credit, and installment business loans. The platform enables businesses to convert receivables into cash before maturity, compare financing offers from multiple banks, and leverage the buyer's creditworthiness rather than their own. It also offers FigoSkor, an AI-powered credit scoring and risk analysis tool, and supports SAP ERP integration for large enterprises.
Product overview
Figopara is a financial technology company that operates as a unified platform providing multiple trade finance solutions for Turkish commercial businesses. The platform connects businesses with financial institutions through digital processes. The core portfolio includes E-Fatura Finansmanı (Invoice Financing) for converting unpaid invoices to cash, Tedarikçi Finansmanı (Supplier Financing) for supply chain finance, Spot Kredi (Spot Loan) from İş Bankası, Rotatif Kredi (Rotating Credit) from TEB, Taksitli Ticari Kredi (Installment Business Loan) from Fibabanka, and Çek Finansmanı (Check Financing). The add-on module FigoSkor provides AI-powered credit scoring and risk analysis. In 2024, Figopara acquired Tekcep and Tekpos POS products from İş Bankası. The platform integrates with SAP ERP and e-invoice service providers, serving 50,000+ commercial businesses across Turkey.
Differentiator
Problem solved
Functional benefit
Brands
- FigoScore / FigoSkor: AI-powered credit scoring and risk analysis tool for evaluating business financial health and creditworthiness
- Figoskor
Products and services
- E-Fatura Finansmanı (Invoice Financing) Enables businesses to collect invoice payments from their customers through partner banks at any time before the due date, providing fast access to working capital against unpaid e-invoices.
- Tedarikçi Finansmanı (Supplier Financing) Allows suppliers to convert their invoiced receivables into cash whenever needed by leveraging the creditworthiness of the buyer companies they invoice, rather than using their own credit limits.
- Çek Finansmanı (Check Financing) Service that allows businesses to convert post-dated checks received from customers into immediate cash through partner financial institutions before their maturity date, with mobile QR code check upload.
- Spot Kredi (Spot Loan) Fast, fixed-rate, short-term loan offered exclusively to Figopara customers by İş Bankası to meet urgent cash needs without requiring invoice collateral.
- Rotatif Kredi (Rotating Credit) Flexible revolving credit line offered by TEB Bank in partnership with Figopara, allowing businesses to borrow, repay, and borrow again within an approved limit secured against e-invoices.
- Taksitli Ticari Kredi (Installment Business Loan) Fixed-term commercial loan offered by Fibabanka exclusively to Figopara customers with interest rates starting from 3.99%, terms up to 24 months, and predictable monthly payments up to 750,000 TL.
- FigoSkor (AI Credit Scoring) AI-powered risk analysis tool providing real-time financial insights about customers and business partners by combining data from trade registries, Findeks reports, financial institutions, and news sources. Basic queries are free for all members, with premium features available on paid plans.
Quantifiable outcome
- Over $1.2 billion in financing volume processed
- +4 more outcomes
Companies that use Figopara
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Figopara technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability6 records
Feature4 records
Figopara partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor and core.
- BASEAKminorBASEAK provided legal advice to clients involved in Figopara's $11 million investment round.
- NazaliminorNazali provided legal advice to clients involved in Figopara's $11 million investment round.
- GokceminorGokce provided legal advice to clients involved in Figopara's $11 million investment round.
- Kolcuoglu Demirkan KocakliminorKolcuoglu Demirkan Kocakli provided legal advice to clients involved in Figopara's $11 million investment round.
- İş Bankası (Spot Loan)coreİş Bankası offers Spot Loans exclusively for Figopara customers. This is a co-branded short-term financing product for urgent cash needs without invoice collateral.
- TEB (Rotative Loan)coreTEB Bank offers Rotative Credit in partnership with Figopara, allowing businesses to use credit against e-invoices within an approved limit.
- Fibabanka (Installment Commercial Loan)coreFibabanka offers Installment Commercial Loans with interest rates starting from 3.99%, exclusively for Figopara customers. Terms up to 24 months.
- SAPcoreSAP integration allows buyer companies using SAP to manage all supply chain finance transactions directly through the Figopara module within SAP without additional screens.
- E-Fatura Entegratörleri (E-Invoice Integrators)corePartnership with Turkish e-invoice integrator companies allowing automatic invoice data transfer to Figopara, enabling higher credit limits and more efficient scoring. Integrators include Logo, Netsis, Mikro, and others.
- 120+ Anlaşmalı Alıcı Firma (Partner Buyer Companies)coreLarge buyer companies including Turkish conglomerates that use Figopara's supply chain finance platform to manage payments to suppliers. Buyer companies include major Turkish industrial and commercial enterprises.
Scale indicators14 records
Recent moves6 records
Expansion highlights7 records
Figopara competitors and assessment
Company assessmentDirect peers
- KredX: Indian invoice discounting and supply chain finance marketplace connecting SMEs with financiers. Closely comparable to Figopara in core use case (invoice financing) and two-sided marketplace model.
- C2FO: Global working capital marketplace that lets suppliers accelerate receivables and buyers extend payment terms. Directly comparable to Figopara's dynamic discounting and supplier financing products.
- BlueVine: US-based fintech providing invoice factoring and lines of credit to SMEs. Comparable to Figopara in invoice financing focus and digital SMB lending model.
- MarketFinance: UK invoice financing and business lending platform serving SMEs. Comparable to Figopara in offering invoice discounting and working capital financing through a digital marketplace.
- Fundbox: US fintech offering small business credit and invoice financing through bank partnerships. Comparable to Figopara in bank-distributed SME financing via digital channels.
- Tradeshift: Global supply chain finance and e-invoicing platform connecting buyers, suppliers, and financiers. Comparable to Figopara in supply chain finance plus ERP/e-invoice integration approach.
Emerging players
- Defacto: French supply chain finance platform providing working capital to SMEs. Comparable to Figopara in digital SCF intermediation, though focused on a different European geography.
Regional players
- Paraşüt: Turkish fintech offering invoicing, accounting, and financial management for SMEs. Comparable to Figopara in serving Turkish SMEs with digital finance tools and e-invoice integration.
- QNB eFinans: Turkish e-invoice, e-archive, and e-ledger platform serving SMEs and corporates. Comparable to Figopara in Turkey e-invoice integration ecosystem that feeds credit scoring and financing workflows.
Broad incumbents
- Findeks: Turkish consumer and commercial credit bureau providing credit reporting and risk data. Comparable to Figopara's FigoSkor in providing financial risk data for Turkish businesses and consumers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Figopara social profiles
Digital presenceFigopara compliance and trust
Trust signalCompliance3 records
Figopara financial estimates
Financial estimateRevenue estimate
Valuation estimate
Figopara leadership team
Management profileNumber of profiles
Profiles2 records
Figopara subsidiaries and ownership
Company hierarchySubsidiaries2 records
Figopara funding detail
Funding detailFunding overview
Funding rounds6 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Figopara M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Figopara
What does Figopara do?
Figopara operates a digital fintech platform that connects Turkish commercial businesses with 24+ banks and 120+ buyer companies to provide supply chain finance solutions, including invoice financing, supplier financing, check financing, spot loans, rotating credit, and installment business loans. The platform enables businesses to convert receivables into cash before maturity, compare financing offers from multiple banks, and leverage the buyer's creditworthiness rather than their own. It also offers FigoSkor, an AI-powered credit scoring and risk analysis tool, and supports SAP ERP integration for large enterprises.
Is Figopara a public or private company?
Figopara is a private company. It is classified as venture growth investor backed and is currently operating.
When was Figopara founded?
Figopara was founded in 2016. It employs 51 to 100 people.
Where is Figopara based?
Figopara is headquartered in Besiktas.
How does Figopara make money?
Two revenue lines are on record. Transaction Fees on Invoice/Supplier Financing is the primary driver. The others are figoSkor Credit Scoring Service.
Who are Figopara's main competitors?
Direct peers on record are KredX, C2FO, BlueVine, MarketFinance, Fundbox and Tradeshift. Defacto is listed as an emerging player. Regional players are Paraşüt and QNB eFinans. Findeks is listed as a broad incumbent.
Does Figopara have an API?
Yes. Figopara provides API access that enables free and fast connection to their platform. The API allows businesses to connect their existing systems and access invoice tracking, uploading, buyer approval, and bank processing functionalities to convert receivables to cash more quickly. This enables integration with e-fatura systems and existing business software.
What industry is Figopara in?
Figopara's product category is Supply Chain Finance & Trade Credit Platform. Its primary akta.pro industry code is FSAGABAE, Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure, with a secondary code of FSAEAMAK, Fintech & Payments Partner / ISO Referral Networks. Its NAICS code is 52222 and its SIC code is 6153.