Apsiyon Team raises 5 million USD to fuel international expansion.
Apsiyon, Turkey’s leading property management software company, services more than 750,000 units. The proptech company provides a fully integrated management platform to property managers with modules that include CRM, multi-platform communication, finance, accounting, digital security and automated meter reading, enabling instant automation and verification. Apsiyon is also a must-have tool for residents. The software platform allows residents to instantly check balances on their property management and utility fees, make electronic payments, reserve common areas, create work orders, contact anyone within their community’s network and benefit from concierge services and exclusive loyalty programs focused heavily on e-commerce.
Launched in 2012 by 3 co-founders, Kudret Turk, Erkan Dogan and Meric Akdamar to tackle the miscommunication between property managers and residents, Apsiyon quickly became an essential digital transformation enabler for an industry that was haunted with traditional ways of doing business. The digital management platform that now houses a team of over 100, replaced the paperwork with technology and helped rebuild the trust between the manager and the resident by resolving the tough issues on instantly updated screens.
We are extremely happy and proud to successfully complete a 5m USD investment during such turbulent times. In addition to EarlyBird Digital East Fund’s participation in this series, we welcomed seasoned tech executive Jak Baruh as a shareholder. This is EarlyBird’s 3rd investment in Apsiyon further sealing their trust and commitment to our business model. The Managing Partner for EarlyBird Digital East Fund, Cem Sertoglu reveals that they have been with Apsiyon since 2016 and “are extremely happy to support the company’s ambitious targets for the long term”. Sertoglu adds that “Proptech receives the highest levels of investments in the world and is clearly one of the most critical technological enablers of the property management industry. Apsiyon continues to be the leading proptech company in Turkey”.
Apsiyon’s new investor Jak Baruh reveals his commitment to his investment: “I have been a tech admiror since forever not only as an IT executive but also as a hobbyist on the subject. Through the due diligence process, I have been able to observe and test the synergy between the Apsiyon team, the core strength of the product and the essentiality of the service. There is need for such a compact product outside of Turkey too. We are in a period where major multi-use highrise developments are being approved in Europe. Even historic cities like Paris are softening the protocols on highrise developments to allow for an expansion in modern developments. These mass modern developments need technology for efficient management. I am very happy to support Apsiyon on its exciting journey in and outside of Turkey.”
This final round brings the total investment in Apsiyon to 10m USD. We will use the new resources to continue growing in and outside of Turkey.
Security platforms, marketplace for home services and heavier focus on e-commerce.
Additional modules will be introduced to Apsiyon users in the local market. Contemporary metropolitan life has moved into clusters of ultra modern mixed-use real estate developments that we now define as neighborhoods. Home, office, shopping mall, gym, school are all packed inside a gated community filled with valet, concierge services. These developments require technology platforms like us to sustain the life they are promoting. We are moving forward with two new modules on security and sustainability that will help property managers strengthen and automate essential business processes. On the modules’ practicality and cost, CEO, Kudret Turk points out “We want Apsiyon to be a one stop shop for customers. That is why we have expanded our product to cover security and energy automation. Our R&D department has successfully developed a system that allows any meter to be digitally integrated with the Apsiyon platform, minimizing the need for changes in infrastructure. We have also created a 24-month installment plan to minimize our customers financial cost on becoming subscribers to these additional Apsiyon services”.
Striving to become the safe haven for the residents on their daily needs.
Apsiyon continues to add on around 500 new gated communities to its network on a monthly basis. The platform has an enormous room for growth on the resident side. “We have recently partnered with one of the most popular dark store start-ups in Turkey, “İstegelsin”, to launch Apsiyon Supermarket. We are allowing our users to order fresh food and more 24/7 through the Apsiyon mobile app,” reveals CPO, Erkan Dogan and continues “We are striving to become an essential tool for residents. We are not as mobile and flexible as we want to be at home or at the office. We apply for tourist visas but we do not have the supporting travel insurance, we have a last minute meeting but do not have anyone to leave the kids with, or we are locked out of our house; we want Apsiyon to be the go-to-brand to resolve issues when we are in need the most. We will continue expanding our product, building on the core values we have initially built it with”.
Strategic acquisitions on the horizon.
Apsiyon leads the Turkish market in proptech, but competition continues to disrupt standards with low quality service and pressures the market with unsustainable pricing methodology. CEO, Kudret Turk reiterates, “We will be on the lookout for any potential acquisitions that will support our regional expansion plans in Turkey and we will also review acquisitions that can speed up our vision on becoming a trusted marketplace for residential needs”.
The local knowhow will help fuel the international expansion.
CTO, Meriç Akdamar reveals, “Apsiyon is built on a distributed microservice architecture. This infrastructure allows great flexibility and agility. We can instantly service our users with an unlimited number of modules such as CRM, finance, electronic payment and digital reservation”.
In addition to Turkey, Apsiyon currently services customers in Cyprus, Macedonia, Ukraine and Azerbaijan. The company plans to enter additional markets in Europe and the Middle East in the near future. “We are constantly reviewing the developed proptech markets and still see great potential for an all-in-one product like Apsiyon. We have enough knowhow and developed operational excellence to expand and and grow with the needs of our international customers. Our product feeds on continued expansion in tailored needs and successful integration with technological advancements. That is why international expansion, especially expansion in developed markets where pricing is not the driver for customer acquisition is so healthy and important for a business of our nature. Predictive automation tools fueled with artificial intelligence is an area we would like to strengthen through our services in the international market” points out CSO, Sinan Bastas.
Apsiyon Team will continue to grow.
“We will certainly expand our team to include employees who can think outside the box, are agile and highly motivated. Our future strategy includes expansion on multiple grounds, we need our finance, sales & marketing and customer service teams fully prepared to take on the extra responsibilities” says Kudret Turk. Apsiyon plans to expand its team of 100 to over 130 by the year end.