TeamSec raises $7.6 million in funding from Rasmal Ventures and Deniz Ventures to grow its business in the MENA region
TeamSec raises $7.6 million in funding from Rasmal Ventures and Deniz Ventures to grow its business in the MENA region
A fintech startup from Turkey called TeamSec has raised $7.6 million in funding from Qatar’s Rasmal Ventures and Emirates NBD Group’s Deniz Ventures. The money will help the company improve securitization technology and expand in the region.
TeamSec Funding
TeamSec will use the funding to help grow its business, focusing on quick expansion in the Middle East and North Africa (MENA) region. They also plan to improve and expand their products and services, as stated in a release on Wednesday.
TeamSec is Turkey’s “first and only” cloud-based Securitization as a Service company, offering financial and regulatory technology (Fintech and Regtech). They aim to help improve the digital transformation of the financial industry.
Ahmed Al Qassim, the group head of wholesale banking at Emirates NBD, mentioned that the bank sees great potential in securitization to support growth in the region. He added that the investment shows the bank’s commitment to shaping the market and supporting its development.
TeamSec provides complete securitization services to both financial and non-financial companies, helping them with capital optimization and working capital solutions.
Important Quotes
Esad Erkam Köroğlu, the founder and CEO of TeamSec, said, “This investment helps us to change the securitization market and make TeamSec a leader in fintech and securitization, especially in the MENA region.”
Alexander Wiedmer, Co-Managing Partner of Rasmal Ventures, said, “Our investment, along with Deniz Ventures, shows our commitment to improving fintech solutions that change traditional financial processes.”
Background
Rasmal Ventures is Qatar’s first independent venture capital company, operating under the Qatar Financial Center. In 2024, it launched Qatar’s first local VC fund, the Rasmal Innovation Fund I LLC.
Deniz Ventures is the venture capital arm of DenizBank, created under the Emirates NBD Innovation Fund, which is the corporate VC branch of the UAE-based Emirates NBD Group.
Published: 30th January 2025
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