Turan

What Turan does

Turan Teknoloji A.Ş. is a Turkey-domiciled fintech operating a mobile-first neobank targeted at the Turkic-world diaspora and migrant corridor. The company issues e-money accounts and physical and virtual cards (on TROY and Mastercard rails), executes 24/7 cross-border transfers to and from 17+ countries (Turkic states plus Europe, the Gulf, TRNC, and Moldova), and supports TR Karekod QR payments, bill payments, and an in-app design-products marketplace called Turan Market. Distribution is fully digital and self-serve through iOS and Android apps with eight-language localization (TR, AZ, UZ, TK, RU, KA, MN, EN), supported by WhatsApp-based customer service and SEO/content marketing in those languages. The product operates as a representative (temsilci) of Moka United Ödeme Hizmetleri ve Elektronik Para Kuruluşu A.Ş., a BDDK-licensed e-money institution supervised by the TCMB under Law 6493, which is the regulatory and technical backbone for Turan's payment and e-money activity. Direct integrations with Uzbekistan's Uzcard and Humo networks, Kazakhstan's Kaspi, Turkey's TROY scheme, and Russia's name-based transfer system are central to its cross-border proposition.

Revenue is generated primarily through transaction-based fees: commissions on international money transfers, a 5.25% (English site also lists 3.5%) fee on debit/credit card balance top-ups, a 1.14% + ₺1 fee on QR-code ATM cash withdrawals, a ₺5.77 out-of-hours domestic transfer fee, a ₺10/month dormancy fee on inactive accounts, and merchandise sales via Turan Market. Pricing is freemium: account opening and Turan-to-Turan transfers are free; unverified accounts are capped at ₺2,750/month, while the Blue (verified) Account tier permits up to ₺1,000,000/month and full international transfer functionality. Customer concentration is highly diffuse, serving hundreds of thousands of individual users across multiple diaspora and resident segments, with no disclosed enterprise clients. The company has raised approximately 75 million TL (~$2.2M USD) across three rounds between September 2022 and January 2024, led most recently by United Payment with participation from APY Ventures, Moka United, Caucasus Ventures, Colendi, Karma Ventures, and others.

Name

Turan

Legal name

Turan Teknoloji A.Ş.

Website

https://turan.app

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Turan is a Turkey-domiciled mobile neobank providing cross-border money transfers, physical and virtual cards, and QR payments to Turkic diaspora and migrants across 17+ countries, operating under a BDDK e-money license via Moka United.

Ownership category

akta.pro rank

Product category

Digital Banking & Remittances

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE), Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB), Loyalty, Points Currency & Stored Value Payments (THALAHAK)

Keywords

• Neobank services
• International money transfers
• Digital payment platform
• Virtual debit cards
• Cross-border remittances

Headquarters

HQ city

Sariyer

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. International Money Transfer Fees: Turan charges transaction fees for international money transfers to Turkic States and other countries, deducted at the time of transfer within specified limits.
2. Balance Top-up with Debit/Credit Card: A 5.25% transaction fee is charged on balance top-up amounts loaded via debit or credit card. (English site also mentions 3.5% rate — possibly a differentiated pricing tier.)
3. QR Code Cash Withdrawal: A fee of 1.14% + 1 TL per transaction is charged for cash withdrawals via QR code at ATMs.
4. Out-of-Hours Transfer Fee: A fee of ₺5.77 (including BSMV) is charged for transfers to Turkish Lira bank accounts made outside of working hours.
5. Unused Account Fee: Monthly ₺10 account fee charged to accounts with no financial activity for 3 months (waived for zero-balance accounts).
6. Turan Market (Design Products): Sale of design products through Turan Market, including special-edition cards and merchandise.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Turan is a mobile-first neobank application that offers digital money transfers (international and domestic, 24/7), free physical and virtual debit cards (Troy and Mastercard), QR-code-based payments via TR Karekod, bill payments, and unlimited cashback campaigns. It operates under a BDDK e-money license via Moka United and serves Turkic-speaking populations and migrants across 13+ countries including Turkey, Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan, Russia, and several European and Middle Eastern states.

Product overview

Turan is a next-generation neobank serving the Turkic States, offering a unified financial application with multiple integrated services. The core product is the Turan App, which provides international money transfers (Uluslararası Para Transferi), 24/7 domestic transfers, QR code payments via TR Karekod, and bill payment services. The ecosystem includes Turan Kart (physical contactless debit card) and Turan Virtual Kart (virtual card for online shopping), both powered by TROY and Mastercard networks. Turan Market adds a design products marketplace, while the Kullanım Rehberi (User Guide) provides educational support. The company operates as a representative (temsilcisi) of Moka United Ödeme Hizmetleri ve Elektronik Para Kuruluşu A.Ş., which is licensed by BDDK and supervised by TCMB under Law 6493.

Differentiator

Problem solved

Functional benefit

Products and services

• Turan App

Quantifiable outcome

• Hundreds of thousands of users ('yüz binlerce Turanlı') have joined the platform for international transfers
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

One partnership is on record.

• Moka United Ödeme Hizmetleri ve Elektronik Para Kuruluşu A.Ş.coreTechnology or IntegrationMoka United is the BDDK-licensed e-money issuer and payment services provider (supervised by TCMB) that powers Turan's e-money operations. Turan Teknoloji A.Ş. acts as Moka United's representative (temsilci, code 8253430111) under Law 6493.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ininal: Turkish e-money and prepaid card provider. Comparable to Turan's e-money card-issuing model, though ininal is broader in retail and merchant acquiring rather than remittance-focused.
• Wise: Global cross-border money transfer and multi-currency account platform. Comparable to Turan as a regulated digital remittance and FX service, though Wise serves global corridors at much larger scale and is a likely competitor in Turan's European and CIS lanes.
• Remitly: Diaspora-focused digital remittance service operating globally. Highly comparable to Turan's value proposition of low-cost mobile-first cross-border transfers to emerging-market corridors, including Central Asia.
• Papara: Turkish e-money institution and digital wallet offering cards, transfers, and QR payments. Closest domestic competitor to Turan in the Turkish neobank space, with overlapping card, transfer, and cashback products.
• WorldRemit: Global digital remittance platform serving diaspora corridors. Directly comparable to Turan's cross-border transfer model and likely competing for the same Uzbekistan, Kazakhstan, and Russia-bound flows.
• KoronaPay: Cross-border money transfer service focused on CIS and Eurasian corridors including Russia, Kazakhstan, Uzbekistan, and Kyrgyzstan. Direct competitor for Turkic-corridor remittances from Europe and CIS.
• Sendwave: Mobile-first remittance app targeting African and Asian diaspora corridors. Comparable as a mobile-first diaspora remittance product, though Sendwave's geographic focus differs from Turan's Turkic specialization.
• Hepsipay: Turkish digital wallet and payment service from Hepsiburada. Comparable as a Turkish digital payments and e-money product, though Hepsipay is anchored to an e-commerce ecosystem rather than cross-border remittance.
• Paycell: Turkcell's mobile payment and e-money platform in Turkey. Comparable as a Turkish telecom-anchored e-money wallet offering transfers, cards, and QR payments, competing for the same domestic digital banking user.

Broad incumbents

• Revolut: Global multi-currency neobank offering cards, transfers, and FX. Comparable to Turan in the multi-currency wallet and card layer, but operates as a broad incumbent across many corridors rather than specializing in the Turkic niche.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/turanapp
• YouTubeyoutube.com/channel/Turan
• LinkedInlinkedin.com/company/turanapp
• Facebookfacebook.com/turanappcom

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Turan