United Kingdom-based BHL Holdings UK (BHL) has increased its total share to 97.5% by acquiring the majority shares of Hesapkurdu and Koalay, which provide brokerage services to its customers in retail banking and insurance products, for a total value of approximately $65 million.
United Kingdom-based BHL Holdings UK (BHL) has increased its total share to 97.5% by purchasing the majority shares of Hesapkurdu and Koalay, which provide intermediary services to its customers in retail banking and insurance products, for a total value of approximately $65 million.
BHL Board Member Ian Leech said:
“Turkiye’s financial sector has undergone a rapid digitalization process in recent years. Leading platforms such as Hesapkurdu and Koalay are among the pioneers of this process. BHL has full faith in Turkiye’s future. This acquisition will further strengthen BHL’s position in Turkiye and enable us to better serve our customers.”
With the sale of shares, the Koleksiyon and Koalay brands will be managed under the roof of BHL Turkiye. Among those who sold their shares are founders Omer Paksoy and Onur Tekin Turhan, Alma Ventures, the major shareholder of Gruppo MutuiOnline, Italy’s largest credit and insurance broker, and the Netherlands-based global insurance group NN Group.
Omer Paksoy, who will continue his duty as the CEO of BHL Turkiye after the sale, emphasized that the company will continue to invest and employ with its long-term thinking strong partner, solid capital structure and strong team.
Paksoy said, “The company that we established from scratch 13 years ago by leaving our corporate life, has approximately 9 million happy customers today” and added: “As BHL Turkiye, we plan to offer new products and services in the field of financial technology in Turkiye in the coming period. In addition, by increasing our investments, we aim to create even more employment in the Turkish fintech ecosystem.”
Onur Tekin Turhan said:
“Our founding purpose was to make banking and insurance products easier and more transparent for individuals and to expand access to financial services in Turkiye. We have taken very important steps towards realizing these goals and we have full confidence that this team will do even better things in the coming period.”
All transactions related to the acquisition are expected to be completed by the end of June.
Source: Egirisim / Prepared by Irem Yildiz