Fintech Startup Wamo Receives $1.5 Million Investment

Must read

wamo received an investment of 1.5 million dollars over a 19 million dollar valuation in the investment tour, in which 8 angel investors, especially Re-Pie Portfolio, participated. Wamo, a financial service platform that was established in London in January 2021 and provides services to startups that want to expand abroad, as well as undertaking the financial management and organization of SMEs in the UK and Europe, is one of 8 angel investors, especially Re-Pie Portfolio. In the investment tour he participated in, he received an investment of 1.5 million dollars over a 19 million dollar valuation.

The platform, which makes it easier for companies to open bank accounts in foreign markets with the digital infrastructure it provides and allows its users to trade from anywhere at any time, will focus on expanding its team, entering new markets, especially in Southern Cyprus and Italy, and developing new products, in addition to growing with the investment it has received.

Yankı Önen, the Founder of wamo, stated that they gained rapid momentum with the platform they established and the innovative solutions they developed, and that they provide services to users in Turkey in the management of all financial processes, especially opening a bank account required for their foreign trade. that they serve 2,500 SMEs from 31 countries in the European Union, Switzerland and Gibraltar regions; He said that they aim to increase the number of accounts, including Turkey, to 4 thousand by the end of 2022.

Stating that they will also focus on new products, Önen said that 350 million Euros of trade has been passed from wamo so far and that they will increase this figure to 500 million Euros by the end of 2022; He added that they foresee a trade volume of 1.5 billion euros for 2023.

Wamo, which plans to increase employment by 50 percent, also aims to move the trades of companies to different market corridors by opening to Southern Europe, especially Portugal, in 2023, after Southern Cyprus and Italy in 2022.

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

- Advertisement -

Latest article