Core Finance served as the exclusive financial advisor for Figopara’s Series A funding round. The financing totaled $11 million USD at a $50 million USD valuation, spearheaded by L2G Ventures with support from multiple institutional investors including Abdul Latif Jameel, Eczacibasi Momentum, and Turkey Development Fund.
Established in 2019, Figopara operates as a digital financing platform targeting small and medium enterprises across underserved markets. The company utilizes proprietary technology called “FigoScore” to assess creditworthiness of SMEs within minutes, offering competitive rates through its platform.
The platform provides two primary financing models: easy financing for early receivables payment and buyer-guaranteed solutions enabling large corporations to offer suppliers accelerated payment options.
Operating primarily in Turkey — a market with 3.5 million SMEs representing 99.8% of businesses — Figopara addresses a significant gap where SMEs comprise only 25% of the country’s $450 billion loan market.
The capital infusion will support product development, team expansion, and international market entry.