Turan
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.
- Company typePrivate
- Founded2022
- HeadquartersSariyer
- Headcount11–50
- GTM typeB2C
- OfferingServices
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.
Turan firmographics
Firmographics- 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
Turan industry classification
Industry- 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
Where Turan is headquartered
LocationHeadquarters
- HQ city
- Sariyer
Offices1 record
Markets served
Turan business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- 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.
- 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.)
- QR Code Cash Withdrawal: A fee of 1.14% + 1 TL per transaction is charged for cash withdrawals via QR code at ATMs.
- 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.
- Unused Account Fee: Monthly ₺10 account fee charged to accounts with no financial activity for 3 months (waived for zero-balance accounts).
- Turan Market (Design Products): Sale of design products through Turan Market, including special-edition cards and merchandise.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Unverified Account - Free basic tier with low limits |
| Freemium | Monthly | Blue Account (Verified) - High-limit tier with full features |
| Transaction based/ take rate | Pay-as-you-go | Balance Top-up via Debit/Credit Card |
| Transaction based/ take rate | Pay-as-you-go | QR Code Cash Withdrawal at ATM |
| Transaction based/ take rate | Pay-as-you-go | Out-of-Hours Bank Transfer |
| Other | Monthly | Unused Account Fee |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Turan product offering
Product offeringCore 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
Companies that use Turan
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Turan technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature6 records
Turan partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Moka United Ödeme Hizmetleri ve Elektronik Para Kuruluşu A.Ş.coreMoka 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
Turan competitors and assessment
Company assessmentDirect 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
Turan social profiles
Digital presenceTuran compliance and trust
Trust signalCompliance5 records
Turan financial estimates
Financial estimateRevenue estimate
Valuation estimate
Turan leadership team
Management profileNumber of profiles
Profiles1 record
Turan funding detail
Funding detailFunding overview
Funding rounds3 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Turan 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 Turan
What does Turan do?
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.
Is Turan a public or private company?
Turan is a private company. It is classified as venture growth investor backed and is currently operating.
When was Turan founded?
Turan was founded in 2022. It employs 11 to 50 people.
Where is Turan based?
Turan is headquartered in Sariyer.
How does Turan make money?
Six revenue lines are on record. International Money Transfer Fees are the primary driver. The others are balance Top-up with Debit/Credit Card, QR Code Cash Withdrawal, out-of-Hours Transfer Fee, unused Account Fee and turan Market (Design Products).
Who are Turan's main competitors?
Direct peers on record are ininal, Wise, Remitly, Papara, WorldRemit, KoronaPay, Sendwave, Hepsipay and Paycell. Revolut is listed as a broad incumbent.
Does Turan have an API?
No public API is recorded for Turan.
What industry is Turan in?
Turan's product category is Digital Banking & Remittances. Its primary akta.pro industry code is FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services, with a secondary code of THALAHAE, Cross-Border Payments & FX (multi-currency wallets, DCC, remittance). Its NAICS code is 52232 and its SIC code is 6199.