Population
86M
Online population
71.3M
Currency
TRY
Population - 86M
At the start of 2023, 77.2% of Turkey’s population lived in urban centres, while 22.8% lived in rural areas.
Internet penetration - 83.4%
There were 71.3M internet users in Turkey in January 2023.
As of February 2023, 739 FinTechs have been established in Turkey, 637 of which are active. When analyzed by verticals, the payments vertical ranks first with 255 organizations. It is followed by decentralized finance, with 92 start-ups, banking technologies with 91 start-ups, and corporate finance with 66 start-ups.
There are two decacorns and four unicorns in Turkey. The total valuation of these six companies reached $37.8B, according to their latest investments. Papara has laid claim to the title of Turkey’s first FinTech unicorn company.
<aside> 🔮 A total of 409 FinTech start-ups were established in Turkiye in 6 years. The year in which the most FinTechs were established was 2018, with 90 FinTechs, 24 FinTech start-ups were established in 2022.
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As of February 2023, 34 FinTechs received an investment of $89M, and 2022 was the year the highest investment was reached. Although the global risk appetite has decreased with the Covid-19, the upward trend in FinTech investments continued in Turkey.
As of March 2023, there are a total of 52 banks operating with 9.5K branches in Turkey and 72 branches abroad.
<aside> 💡 [Turkey Cumhuriyeti Ziraat Bankası A.Ş.](https://www.ziraatbank.ru/en/ziraat-bank#:~:text=T.C.,in the Turkish banking sector.), also known as Ziraat Bankasi, [had](https://www.statista.com/statistics/857299/leading-banks-in-turkey/#:~:text=Türkiye Cumhuriyeti Ziraat Bankası A,as of June 30%2C 2023.) the highest value of total assets in Turkey as of June 30, 2023. The state-owned bank saw total assets reach more than $116.9B in the first half of 2023, approximately 33B more than the second largest bank.
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