Revo Capital and MV Holding take 24% stake in Cardtek

Revo and MV will acquire a combined 24% stake in the Turkish fintech company for an undisclosed investment.

The fresh capital will be used to strengthen Cardtek's presence in the North American, European, Middle Eastern and Asia-Pacific markets.

Based in the Netherlands, Revo is a venture capital firm focusing on technology investments in Turkey and the surrounding region, investing from a $65m fund. MV is the investment vehicle of Murat Vargi, a Turkish entrepreneur and co-founder of Turkey-based mobile telecommunications company Turkcell.

Company
Founded in 2001, Cardtek is an Istanbul-headquartered payments technology provider.

The company provides software and hardware to the retail, financial and telecoms industries, as well as to public transit services.

People
Revo Capital – Ozcan Tahincioglu (general partner).
MV Holding – Ebru Dorman (CEO).
Cardtek – Ayse Nil Sarigollu (CEO).

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• Topics
• Expansion
• CEE
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• Turkey