Abraaj acquires minority stake in Biletal

The Turkey-focused GP bought the shares through its Anatolia Growth Capital Fund, which invests in high-growth small and medium-sized enterprises in the less developed regions of Turkey.

The deal marks the third investment from the fund. It is the first technology investment undertaken by a private equity or venture capital fund outside of Ankara in the Anatolia region of Turkey, according to Abraaj.

With the fresh capital, Abraaj intends to support Biletal's growth through marketing and advertising, as well as developing the firm's loyalty programme and expanding with value-adding services.

Company
Established in 2006, Biletal is headquartered in Kayseri. It began its operations by selling intercity bus tickets online and has since become a national ticketing platform. It sells tickets for 170 intercity bus companies, 120 domestic and international airlines, domestic ferry and train services.

According to Abraaj, the company saw a 42% growth in ticket sales from 2016-2017.

People
Abraaj Group – Selçuk Yorgancıoğlu (partner).
Biletal – Yaşar Çelik (CEO).

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• Topics
• Expansion
• CEE
• Consumer
• Turkey
• Abraaj Capital
• Venture