NEWSROOM

The Turkish financial technology company, which collects the digital wallets of different brands in a single marketplace and reached over 100 brands and more than 300 thousand users quickly, renewed its name and corporate identity while accelerating its international expansion plans. The fintech startup announced that it will grow in international markets with the name of Magellan, the first explorer to travel the world.

TURKEY - The Turkey Startup Investments report published by KPMG Turkey and 212 revealed that investments in Turkey-based startups in the second quarter of 2023 increased compared to the first quarter and reached 150 million dollars. Alternatif SuperApp ranked 3rd among the top 10 transactions, accounting for 86% of the total transaction volume. As we approach the end of a year when financial technology companies accelerated their overseas expansion plans, new news came from Alternatif SuperApp, which collects digital wallets of different brands in a single marketplace. The fintech startup announced that it has renewed its name and corporate identity during this period as it prepares for its international expansion plans and that it will continue its growth journey as Magellan SuperApp.

Sharing his evaluations on the subject, Magellan SuperApp CEO Zeynel Enes Mirza said, “We decided to move our business model, which collects digital wallets of brands in a single marketplace, to international markets as of 2023. In line with this decision, we renewed our brand identity as Magellan SuperApp. We will increase our growth momentum in global markets with our new corporate identity, application interface and name.” 

It received an investment of 4.7 million dollars

Magellan SuperApp completed its first investment round in June 2023, receiving an investment of $4.7 million at a valuation of $62.5 million. The company then accelerated its international expansion plans by focusing on the markets of Azerbaijan and the United Arab Emirates and renewed its corporate identity in this context. Zeynel Enes Mirza pointed out that they have proven the success of the business model that collects digital wallets of brands in one marketplace in Turkey and said, “In line with our local and global goals, we have completely renewed our corporate identity as well as our application. Our Magellan SuperApp application, which we redesigned to achieve our global goals, will soon meet the user with its new interface and beta version.”

More than 100 brands, more than 300 thousand users

Stating that they offer many products such as digital wallet infrastructure, campaign infrastructure, CRM module, digital gift cards, QR menus to member businesses with an innovative and user-oriented approach, Zeynel Enes Mirza, CEO of Magellan SuperApp, concluded his evaluations with the following statements:

“By offering these solutions to member businesses, we bring every brand's digital wallet to our platform. This approach, which prioritises cooperation and benefits both member businesses and end users, will continue with more opportunities we will offer our business partners in the new period. We have collaborated with more than 100 brands with this model. We reached more than 300 thousand users. With our new corporate identity, we will carry this growth momentum to global markets. Our entire team is excited! “With our new interface and corporate identity, we will continue to offer added value to the ecosystem by offering an alternative approach to world-renowned marketplace models.”