Access to financial services remains a challenge for many small and medium-sized enterprises (SMEs), particularly those engaged in international trade. Istanbul-based fintech Mundi has secured $2.5 million in Seed funding, aiming to address this issue by providing SMEs with easier access to capital market products. The investment round was led by Speedinvest and DeBa Ventures, signaling growing investor interest in Turkey’s financial technology sector. The company plans to use these funds to develop new financial products and expand its market presence.
Mundi previously raised $16 million in a Series A round in February 2022, with backing from Union Square Ventures, Upper90, and Base10 Partners, among others. While that round focused on scaling its financial solutions, the latest funding is directed toward launching additional capital market products tailored for SMEs. The company’s ongoing fundraising efforts highlight the increasing demand for alternative financial solutions in emerging markets.
How Does Mundi Support SMEs in International Trade?
Mundi helps SMEs simplify cross-border transactions by offering services such as free virtual accounts in the United States, currency exchange without SWIFT fees, and export invoice financing. These features enable businesses to optimize their financial operations while reducing costs associated with international payments. By removing barriers that SMEs face in global trade, Mundi aims to create a more streamlined and efficient financial environment.
What Are the Company’s Plans for Growth?
The newly raised capital will be used to expand Mundi’s financial products and strengthen its position in the Turkish market. The company intends to introduce solutions that provide SMEs with access to investment opportunities and liquidity management tools. This broader approach is expected to attract more businesses looking for efficient financial management options.
Göksenin Akdeniz, Co-Founder and CEO of Mundi, stated:
“We’re committed to transforming capital markets in the commercial and SME segments by developing innovative products to help SME’s manage their investments.”
The company’s leadership sees this expansion as a step toward offering more tailored financial solutions to enterprises across Turkey.
Ömer Paksoy, Co-Founder of Mundi, emphasized the company’s mission:
“Our mission is to ease SMEs’ access to financial services and integrate them into capital markets. The innovative solutions we have developed align with this vision, not only supporting business growth but also contributing to a more inclusive and sustainable economy.”
He also highlighted the importance of attracting global investors, noting that Speedinvest’s involvement demonstrates confidence in Turkey’s fintech potential.
Providing SMEs with financial tools that simplify trade and investment remains a growing focus for fintech firms. Mundi’s approach reflects a broader trend in emerging markets where access to financial services is a key barrier to business growth. Similar initiatives in other countries have shown that enabling SMEs with efficient financial solutions can contribute to overall economic stability. As competition in the sector intensifies, Mundi’s ability to differentiate itself through its product offerings and market expansion strategies will be crucial.
