Thursday, 21 September 2023 08:03 GMT

BHL Holdings UK Acquires Majority Stakes In Hesapkurdu And Koalay


(MENAFN- B2Press) UK - based BHL Holdings UK (BHL) has acquired majority stakes in Hesapkurdu and Koalay, which provide brokerage services for individual banking and insurance products, at a total enterprise value of approximately $65 million, increasing its total shareholding to 97.5%.

Ian Leech, board member of BHL, said: "Turkey's financial sector has undergone a rapid digitalization process in recent years. Leading platforms such as Hesapkurdu and Koalay are pioneers in this process. BHL is fully confident in Turkey's future. This acquisition will further strengthen BHL's position in Turkey and enable us to provide better service to our customers."

The Hesapkurdu and Koalay brands will be managed under BHL Turkey after the share sale. The sellers of the shares include founders Ömer Paksoy and Onur Tekin Turhan, Alma Ventures, the largest shareholder of Italy's largest credit and insurance broker Gruppo MutuiOnline, and Dutch-based global insurance group NN Group.

Ömer Paksoy, who will continue to serve as CEO of BHL Turkey after the sale, emphasized that the company, with its robust capital structure and strong team, will continue to invest and create employment in the long term. Paksoy, who said "We founded the company from scratch 13 years ago by leaving our corporate jobs, and today we have about 9 million happy customers," added: "As BHL Turkey, we plan to offer new products and services in Turkey in the coming years. We also aim to increase our investments and create more employment in the Turkish fintech ecosystem."

Onur Tekin Turhan said, "Our goal was to make banking and insurance products easier and more transparent for individuals and to expand access to financial services in Turkey. We have taken very important steps in achieving these goals, and we are confident that this team will do even better things in the future."

The completion of all transactions related to the acquisition is expected to take place at the end of June.

Contact: Tülay Genç | [email protected] | +31 30 799 6022

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